Bright Power Contracted to Bring Sustainability to Bronx Community and Environment
Bronx, NY – June 6, 2019 – Taconic Investment Partners (Taconic) and Clarion Partners, LLC (Clarion) have contracted Bright Power, an energy and water management consulting and construction company, to design and install 917 kilowatts (kW) of solar photovoltaic (PV) panels at their flagship Quality Communities property in the Bronx, Eastchester Heights. By installing solar panels, Taconic and Clarion are improving an existing property and reducing its emissions. The solar installation is expected to produce over 1.1 million kilowatt hours (kWh) of clean electricity, equivalent to removing 165 cars from the road for a year or the carbon sequestered by over 12,800 tree seedlings grown over 10 years.
“Clean power is a major priority for both Taconic and Clarion, and we’re thrilled to join the movement of making the Bronx community more sustainable,” said Andrew Schwartz, Vice President at Taconic. “This initiative will benefit the environment, while also lowering operating costs and giving us the flexibility to allocate funds to other improvements.”
Installation is slated to begin June 2019 and expected to be completed by end of year. Consisting of 3,005 305-Watt panels, the Bright Power team is using ballasted racking, enabling them to build the entire system without making any penetrations into the roof. Using SolarEdge inverters with DC optimizers, the technology allows each solar panel’s production to be optimized independently of surrounding panels with energy production monitoring at the panel level. This is the first time Taconic has incorporated solar technology into one of its properties and they plan to explore future opportunities for others.
“Taconic and Clarion’s forward thinking is commendable,” said Henry Hatch, Senior Account Manager at Bright Power. “By committing to solar and a solar installation of this size, they are making a clear statement: we care about the environment and our community, and we are going to be part of a solution to fight climate change.”
With new legislation in New York City aimed to reduce emissions from existing buildings, Taconic and Clarion will be one step ahead in helping the city meet its goal to reduce greenhouse gas emissions by 80% by 2050. The solar panels at the Quality Communities property will help New York State reach its goal of 100% carbon-free electricity by 2040 and decrease emissions in an area that has the highest asthma rates in the country.
“As a lifelong Bronx resident, it’s become my personal mission to improve the life of every person that calls this borough home,” said Bronx Borough President Ruben Diaz Jr. “In stabilizing and saving these buildings, Taconic and Clarion are raising the bar for other developers and owners in the borough and helping to drive our goal to reduce our greenhouse emissions by 80% in 2050. We’ll continue to not only ensure affordable housing for all Bronxites, but to make sure those homes are built sustainably and responsibly.”
For more information on Quality Communities, please visit www.qualitycommunities.com.
About Taconic Investment Partners LLC
Taconic is a fully integrated owner, operator, and developer of commercial and residential real estate. From adaptive reuse and urban revitalization to luxury office and residential development, Taconic leverages proven expertise, a diverse set of capabilities, and a visionary approach to maximize investment returns. Taconic invests in high-quality assets that offer significant value-add potential, targeting both ground-up development and repositioning opportunities.
Since 1997, Taconic has successfully acquired, developed, redeveloped, and repositioned over 12 million square feet of office, mixed-use, and retail space and more than 4,688 units of for-sale and multi-family housing with a focus in New York City.
About Clarion Partners
Clarion Partners LLC, an SEC registered investment adviser with FCA-authorized and FINRA member affiliates, has been a leading U.S. real estate investment manager for more than 36 years. Headquartered in New York, the firm maintains strategically located offices across the United States and Europe. With over $50 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its 350+ domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
About Bright Power, Inc.
Bright Power provides strategic energy solutions to building owners and operators in NYC and across the nation. Specializing in multifamily apartment buildings, Bright Power has worked with over 1,400,000 apartments that cover 1,200,000,000 square feet. Bright Power’s energy management solutions include EnergyScoreCards benchmarking software, energy audits, energy procurement, on-site generation, green building design services, turnkey installation of energy improvements, and ongoing energy management. For more information, please visit www.brightpower.com.