A shiny new 1.7 MW rooftop solar array is powering up a warehouse in Torrence, California. Valta Energy and Black Bear Energy completed the project for the facility owned by Ares Management Real Estate funds.
“We are excited to embark on this journey towards a more sustainable future with our partners,” said Steve Young, managing director in the Ares Real Estate team. “This rooftop solar project not only aligns with our initiative to support a transition to a lower carbon economy, but also demonstrates our commitment to driving positive change within the communities we operate.”
Ares Management Corp. is a leading global alternative investment manager. As of Dec. 31, 2023, the firm’s global platform had approximately $419 billion of assets under management, with approximately 2,850 employees operating across North America, Europe, Asia Pacific and the Middle East.
The newly constructed, fully leased facility is located in the dynamic South Bay industrial market. The project, which is part of the Los Angeles Department of Water and Power (LADWP) Feed-in Tariff (FiT) program, will provide renewable electricity to the local utility grid.
Launched in 2013, the FiT program incentivizes the deployment of solar through predetermined tariff rates for 20 years. The system, built by Valta Energy and facilitated by Black Bear Energy, will produce more than 2.95 GWh per year.
“We are thrilled to have collaborated with top caliber partners like Valta to complete projects of this scale which benefit the city of Los Angeles and support Ares’ commitment to solar,” said Drew Torbin, founder and president of Black Bear Energy, a Legence company that specializes in onsite renewable energy and cleantech services. In the past nine years, Black Bear has helped its clients bid out more than 2,000 clean technology projects in more than 20 states through its data driven process.
Tags: Ares Management Corporation, Black Bear Energy, commercial and industrial, rooftop solar, Valta Energy
