MetLife Investment Management (MIM) has recently announced a partnership with DSD Renewables to implement a 2.2-megawatt solar project and 510 kWh Battery Energy Storage System at Intersect, an innovative office campus in Irvine. This project, on behalf of owners PGGM and MetLife, will generate over 3.5 million kWh of clean energy annually and cover approximately 74% of the campus’s energy needs.
The property owners anticipate this solar installation to be the largest for an office campus in Orange County. In 2022, MIM and PGGM acquired Intersect from Hines for $235.2 million.
According to Jim Landau, head of ESG at MIM: “We understand the impact that responsible real estate investing can have on improving workplaces and communities while also positively contributing to our environment.” He further stated that this solar project aligns with their commitment towards supporting sustainable solutions that drive progress towards a low-carbon economy while managing risk and creating sustainable investment returns.
PGGM investment manager Eugene Philips added: “Installing solar panels where it makes financial sense is perfectly aligned with our focus on sustainable investments.” He believes that having a low-carbon building will attract tenants who value sustainability initiatives while making the office campus future-proof – ultimately contributing towards their impactful real estate portfolio.
This announcement marks another step forward in promoting clean energy upgrades as part of Connect CRE’s mission to support environmentally-friendly practices within commercial real estate developments.
