Pleased to share that a joint venture between #AXAIMAlts and Cabot Properties, a global private equity real estate firm, has completed a 114kW rooftop solar array on an 261,000 sq ft industrial property in Fontana, #California.
AXA IM Alts’ first solar project in California, the 211-panel installation will provide low-cost renewable electricity to the asset’s tenants, helping to power their operations. The system, which was developed and installed by Motive Energy ’s in-house EPC (engineering, procurement and construction) team, and facilitated through AXA IM Alts and Cabot’s partnership with Black Bear Energy Inc., should produce over 200,000 kWh of renewable energy per year which will reduce annual on-site CO2 emissions by over 141 metric tons.
The completion of the project follows AXA IM Alts’ and Cabot Properties’ delivery of a 3.7 MW community solar project on the rooftop of an industrial building in Somerset, NJ, in 2023, which enables the offset of over 3,250 metric tons of CO2 per year, equivalent to the annual energy consumption of 411 households.
The expansion of AXA IM Alts’ #solar #infrastructure portfolio in the US is in line with its broader responsible investment strategy which targets #decarbonization, resilience against climate issues and creating and enhancing value across its assets.
Congrats Steve McCarthy and team !
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