Valta Energy and Black Bear Energy are delighted to announce the successful realization of a 1.7 MW rooftop solar array on a warehouse property in Torrance, CA, owned by Ares Management Real Estate funds. The state-of-the-art facility, fully leased and strategically positioned in the dynamic South Bay industrial market, stands as a testament to sustainable energy innovation.
This landmark project, falling under the Los Angeles Department of Water and Power (LADWP) Feed-in Tariff (FiT) program initiated in 2013, marks a significant step towards renewable energy adoption. The program incentivizes solar deployment through predetermined tariff rates over a twenty-year period. Constructed by Valta Energy and facilitated by Black Bear Energy, the solar array is poised to contribute 2,963,023 kWh annually to the local utility grid, equivalent to powering 202 homes each year.
Steve Young, Managing Director in the Ares Real Estate team, expressed enthusiasm for the project, emphasizing its alignment with Ares' commitment to a lower carbon economy and positive community impact. Drew Torbin, Founder and President of Black Bear Energy, highlighted the collaboration's success in advancing Ares' solar initiatives.
Investment Disclaimer: This article is for informational purposes only and does not constitute investment advice, endorsement, or a solicitation for any investment. Readers are encouraged to conduct their own research and seek professional advice before making investment decisions. The mentioned projects and collaborations are subject to market and regulatory conditions that may impact their outcomes.