Morgan Stanley to anchor new 2.7 megawatt array which will offer discounted electric power to local community
Altus Power, Inc., (NYSE: AMPS), the leading commercial-scale provider of clean electric power, and Brightcore Energy, a leader in developing and implementing renewable energy solutions for the commercial and institutional market, today announced a new solar project with Morgan Stanley (NYSE: MS) that will be installed on Morgan Stanley’s parking structure at its campus in Purchase, NY.
“Morgan Stanley is a leader in the global financial markets, and we’re excited to provide its Westchester site with a new source of clean energy benefiting their campus and the surrounding community,” said Gregg Felton, Co-CEO and Co-Founder of Altus Power. “We look forward to additional opportunities to work with Brightcore and Morgan Stanley in the future.”
“We are excited to see our work with Morgan Stanley become reality,” said Mike Richter, President of Brightcore Energy. “We are now looking forward to building the project and working with our trusted partner, Altus Power, who will own and operate the system and manage the off-take.”
“We are pleased to team up with Altus and Brightcore to gain access to new clean energy at one of our marquee locations,” shared Geoff Boulter, Global Head of Real Estate Services at Morgan Stanley. “This will not only further drive the operational sustainability goals of our Westchester campus, it will also support our local communities by providing an additional source of clean, electric power.”
The 2.7 megawatt solar array will be located on parking canopies at Morgan Stanley Wealth Management’s campus in Purchase, N.Y., and is expected to save the carbon equivalent of burning more than 2.9 million pounds of coal or more than 4,700 barrels of oil as compared to utility power. Morgan Stanley will benefit from 40% of the discounted, clean electric power generated from the project, with the remaining benefits to be offered to the local community.
Altus Power currently serves more than 20,000 Community Solar subscribers nationwide. Community Solar provides homeowners and renters of diverse income brackets access to the benefits of clean energy and power bill savings without the requirement of roof space or home-installation of solar panels. Customers interested in the benefits of clean energy can learn more by visiting www.altuspower.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.
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. Visit www.BrightcoreEnergy.com to learn more.
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Contacts
Chris Shelton
Head of Investor Relations
mediarelations@altuspower.com
