Real estate investment firm launches community- and utility-solar business
Real estate investment and development company Crow Holdings has announced the launch of Crow Holdings Renewables, a new business that aims to apply Crow Holdings’ development expertise and local presence in a number of U.S. solar markets to develop community and utility-scale solar energy and the battery. storage projects across the country.
Crow Holdings Renewables is primarily focused on the entitlement and development of community solar projects (and related battery storage solutions) averaging 5 MW and mid-sized, utility-scale projects averaging 25 MW. As a Crow Holdings business line with significant greenfield development experience, Crow Holdings Renewables is also well-positioned to leverage a broad portfolio of industrial facilities to add solar power to millions of square feet of industrial rooftops across the country, which can: provide lower cost energy to all ratepayers. Crow Holdings Renewables is led by Lawrence Pelosi, senior managing director of Crow Holdings, and Tim Marwich, who recently joined the company as managing director.
“The nation’s energy transition and renewables have clearly expanded opportunities in recent years, thanks to federal and state support, technology improvements, cost reductions and customer engagement,” said Crow Holdings CEO Michael Levy. “We are seeing material growth across the industry that we expect to continue for the foreseeable future, and we are excited to launch Crow Holdings Renewables at such a critical time. With strong positions in some of the fastest growing solar markets in the US, and highly capable leaders in Laurence and Tim as part of the growing business team, we plan to significantly contribute to the development of communities and renewable energy solutions. businesses across the country.”
The Crow Holdings Renewables team is already identifying and pursuing suitable project sites in California, New Jersey, Maryland and Illinois, as well as other markets.
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