Solar Power Milestone Achieved on Los Angeles Warehouse Property
Valta Energy and Black Bear Energy proudly announce the successful completion of a cutting-edge 1.7 MW rooftop solar array on a warehouse property in Torrance, CA. Owned by Ares Management’s Real Estate funds, this fully leased facility marks a significant achievement in the dynamic South Bay industrial market.
Contribution to Local Grid Through LADWP Feed-in Tariff Program
Part of the Los Angeles Department of Water and Power (LADWP) Feed-in Tariff (FiT) program, the project reinforces renewable energy goals. Launched in 2013, the FiT program incentivizes solar deployment through predetermined tariff rates spanning two decades. This system, crafted by Valta Energy and facilitated by Black Bear Energy, is set to contribute 2,963,023 kWh annually to the local utility grid, powering approximately 202 homes yearly.
Ares Management’s Commitment to Sustainability
Steve Young, Managing Director in the Ares Real Estate team, expresses enthusiasm about the project’s alignment with their initiative for a lower carbon economy. The rooftop solar venture not only supports sustainability goals but also underscores Ares Management’s dedication to positive community impact.
Collaboration and Commitment to Solar Initiatives
Drew Torbin, Black Bear’s Founder and President, highlights the collaboration with esteemed partners like Valta in completing large-scale projects. These ventures not only benefit the city of Los Angeles but also contribute to Ares’ unwavering commitment to solar energy.
About Black Bear Energy and Ares Management
Black Bear Energy, a Legence company, specializes in technology-enabled, commercial buyer’s representation for onsite renewable energy and cleantech services. Ares Management Corporation, a global alternative investment manager, is committed to providing flexible capital across various asset classes to support businesses and create value.
Source：https://www.businesswire.com
