Dive Brief:
- Cushman & Wakefield and Catalyze are partnering to expand the adoption of solar and storage technologies across U.S. commercial and industrial facilities.
- The strategic partnership will leverage Cushman & Wakefield’s network to identify and secure new opportunities for renewable energy installations, with Catalyze aiming to broaden its reach and improve access to sustainable energy solutions among businesses, according to a news release Thursday.
- Two teams from the respective companies will work closely to expand renewable energy installations as part of the agreement, per the release. The collaboration will help clients increase their operating income, cut utility costs and meet their ESG goals through carbon emissions reductions, while reducing strain on the power grid, the companies said.
Dive Insight:
Real estate generates approximately 39% of annual global greenhouse gas emissions, with 28% coming from the operations of buildings, according to independent ESG data firm GRESB. Commercial buildings consume 75% of all electricity used in the U.S. and 40% of the nation’s total energy, according to the U.S. Department of Energy.
Cushman and Wakefield said it has set “ambitious emissions reduction targets” to slash absolute GHG emissions from its own corporate operations, as well as the facilities it manages on behalf of its clients.
To advance those efforts, the partnership with Catalyze will provide clients access to integrated sustainability solutions that can help them meet their net-zero targets, trim operational costs and enhance the value of their real estate assets, Cushman & Wakefield says.
Catalyze, an integrated developer and independent power producer of distributed renewable energy assets, provides standardized, configurable systems to commercial and industrial property owners through its expertise in rooftop solar, community solar and batteries, according to the release. The firm also provides proprietary technology, including an origination-to-operations software integration platform and mounting technology for installing rooftop panels, per the release.
The company recently announced the operation of a solar and storage project installed in a 224,106 square-foot Class A life sciences building in Watertown, Massachusetts that involved installing 15 electric vehicle charging ports, per an April news release. In April, Catalyze also announced its purchase of 12 New York community solar projects, totaling 76/7 megawatts, from BW Solar. At the time, Catalyze CEO Jared Haines said the transaction would boost the demand for renewable electricity in the state.
The partnership with Cushman & Wakefield builds on Catalyze’s momentum in the commercial and industrial sectors, per the release issued Thursday.
“This partnership marks a significant step forward in our mission to accelerate the adoption of renewable energy among commercial and industrial customers, benefiting both tenants and building owners,” Haines said in the release. “[By] combining our experience and expertise in the C&I market, we can more effectively deploy impactful renewable energy solutions at scale.”
Haines noted that Cushman & Wakefield can not only help its clients reach their ESG goals, but also increase their net operating income by adding new lease and rental income for areas used for installations.
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