Brightcore Energy Announces New Community Solar Project with Altus Power and Brennan Investment Group

Rhea-AI Summary

Brightcore Energy (AMPS) announces a new solar project with Altus Power and Brennan Investment Group. The project involves 16,000 solar panels across 19 properties, projected to produce 8,993MWh of electricity annually. The project is expected to reduce CO2 emissions and greenhouse gas emissions significantly.

Solar arrays across 19 properties projected to produce a combined 8,993MWh of electricity annually

ARMONK, N.Y.--(BUSINESS WIRE)-- Brightcore Energy, a leader in developing and implementing renewable energy solutions for commercial and institutional markets, has announced a new solar project with Altus Power, Inc., (NYSE: AMPS), the leading commercial-scale provider of clean electric power, and Brennan Investment Group, the second largest, privately held industrial real estate owner in the U.S. The project will consist of more than 16,000 solar panels in arrays across the rooftops of 19 properties owned in a joint venture between Brennan and Global Gate Capital, an international investment firm.

“We are pleased to have the opportunity to work with Altus Power and Brennan to develop this project to bring green, sustainable energy to the surrounding communities. This project was rather unique in that it encompassed so many locations within one project. There was quite a bit of coordination to align all the logistics,” said Mike Richter, President of Brightcore Energy.

”Brennan has enjoyed collaborating with the Brightcore team to make this solar project a reality,” said Chris Massey, Managing Principal of Brennan Investment Group. “Renewable energy is an important facet of modern-day investment strategy, and this project helps us fulfill our goals. Engineering and implementing this multi-building project required a true ‘team approach’ with the Brightcore team to accomplish and we are very proud of the results.”

Philip Tager, Head of U.S. Real Estate for Global Gate Capital, said “We are excited to complete this project with Brightcore to enhance the portfolio and make it more sustainable.”

“New Jersey has one of the fastest growing community solar programs in the country and Altus Power and Brightcore Energy have been working together to make this program a reality,” said Gregg Felton, co-CEO and co-founder, Altus Power. “Brennan has proven to be an important partner for Altus in developing and constructing solar projects that will benefit the entire community.”

The development of the combined 7.5-megawatt rooftop system is expected to conclude next month.

Once fully operational, it is projected to produce 8,993MWh of electricity annually. It is the equivalent CO2 emissions reduction of burning 7,138,941 lbs. of coal and the equivalent GHG emissions of removing 1,418 gas-powered vehicles from the road for one year or 16,337,962 miles driven.

About Brightcore Energy

Brightcore Energy, based in Armonk NY, is a leading provider of end-to-end clean energy solutions to the commercial and institutional market. Solutions include high-efficiency heating and cooling systems (geothermal) for both new construction and existing building retrofits, commercial-grade solar, LED lighting and controls, energy storage, electric vehicle (EV) charging stations, smart building solutions, and other emerging technologies. Brightcore’s turnkey, end-to-end solutions encompass preliminary modeling & feasibility, design & engineering, financing & incentive management, construction & implementation, and system performance monitoring.

For more information on Brightcore Energy, visit BrightcoreEnergy.com.

About Brennan Investment Group

Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $9 billion in industrial real estate. The company’s current portfolio spans 29 states and encompasses 52 million square feet.

Brennan Investment Group co-invests with private and institutional capital to achieve outstanding riskadjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.

For more information on Brennan Investment Group, go to brennanllc.com.

About Global Gate Capital

Global Gate Capital is an international investment firm that invests its own and its clients’ capital in a range of asset classes globally, including real estate, private equity, credit, and listed securities. The firm also provides corporate advisory services to its select client base. With offices in London, Geneva, New York, Dubai and Beirut, Global Gate has grown its assets under management to over $5 billion since its founding in 2013.

www.globalgatecapital.com

About Altus Power

Altus Power, based in Stamford, Connecticut, is the leading commercial-scale provider of clean electric power serving commercial, industrial, public sector and Community Solar customers with end-to-end solutions. Altus Power originates, develops, owns and operates locally-sited solar generation, energy storage and charging infrastructure across the nation. Visit www.altuspower.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231128000398/en/

Brightcore Energy, LLC

Michael Tracy

VP, Marketing

914-719-6027

Michael.tracy@brightcoreenergy.com

Source: Brightcore Energy

FAQ

What is the new solar project announced by Brightcore Energy, Altus Power, and Brennan Investment Group?

The new solar project involves 16,000 solar panels across 19 properties and is projected to produce 8,993MWh of electricity annually.

What are the environmental benefits of the new solar project?

The project is expected to reduce CO2 emissions and greenhouse gas emissions significantly, equivalent to removing 1,418 gas-powered vehicles from the road for one year or 16,337,962 miles driven.

When is the development of the rooftop system expected to conclude?

The development of the 7.5-megawatt rooftop system is expected to conclude next month.