Independent power producer Catalyze said it has come to terms on a Master Framework Agreement (MFA) with Stream Realty Partners to jointly develop on-site renewable energy solutions on all of Stream’s industrial owned properties across the US.
Under the MFA, Catalyze and Stream will deploy solar, battery storage, and EV charging solutions across Stream’s development pipeline of over 40 million square feet, equivalent to over 450 MW of on-site solar and battery storage projects. Catalyze and Stream are initially considering 42 properties across the United States, in markets including California, North Carolina, South Carolina, Tennessee, and Texas, and aim to deploy fleet EV chargers at many of the properties over the next few years.
“As the real estate industry moves ESG to the top of its priority list, owners are seeking simple, cost-efficient ways to integrate clean energy solutions and reduce emissions across entire portfolios,” said Steve Luker, Catalyze CEO.
According to Catalyst, the partnership will enable the company to de-risk Stream’s costs and supply chains and accelerate construction across the pipeline, allowing for more rapid clean energy development and emissions reductions than would be possible had Stream tried to bring renewable resources to its properties alone.
“Catalyze’s vertical integration, financial capabilities, and national expertise make them an ideal clean energy transition partner for our mission of addressing emissions at scale across our national portfolio,” said Adam Jackson, chief investment officer and chairman of the ESG Committee for Stream.
In September 2021, Catalyze acquired Sol Alliance, a solar sales and development firm that operates in the Northeast, in a move that brought Catalyze a project development pipeline of more than 80 MW. The company has stated long-term plans to acquire regional distributed solar development firms and alleviate strain on power infrastructure by developing sustainable, local power generation.
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