Crow forms renewable energy business
Crow Holdings has launched a renewable energy business.
The US real estate developer this week announced the launch of Crow Holdings Renewables, a new business which will develop community- and utility-scale solar energy and battery storage projects across the country.
The new venture will initially focus building community solar projects (and related battery storage solutions) averaging 5MW and mid-sized, utility-scale projects averaging 25 MW.
Crow said the new business would be able to leverage its portfolio of industrial properties, with potential to add solar to “millions of square feet of industrial rooftops” across the country.
The new business is co-led by Laurence Pelosi, senior managing director at Crow Holdings, and Tim Marvich, who recently joined the company from Apex Clean Energy and who has 17 years’ experience in renewable energy. They are joined by Riean Norman, who joins as a vice president focused on California and the Northeast.
“The country’s energy transition and renewables have demonstrably expanded opportunities in recent years, through federal and state support, improving technologies, declining costs, and customer engagement,” said Crow Holdings CEO Michael Levy.
“We are seeing material growth across the sector 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 footholds in some of the fastest-growing solar markets in the US, and with highly capable leaders in Laurence and Tim as part of a growing team for the business, we plan to meaningfully contribute to the development of renewable energy solutions for communities and businesses across the country.”
The company said Crow Holdings Renewables had already identified and was pursuing suitable project locations in California, New Jersey, Maryland, and Illinois, with other markets to follow.