Standard Solar Deploys Smart Financing for Multi-State, Multi-Site Solar Project Portfolio to Provide Renewable Energy to Iron Mountain’s Business Operations
ROCKVILLE, Md.--(BUSINESS WIRE)--Feb 11, 2020--
Continuing its efforts to offset the unprecedented surge in demand for power within the Information Management sector, Iron Mountain Incorporated ® (NYSE: IRM ), the storage and information management company, will add 18 rooftop solar arrays in five states totaling 5 megawatts. Standard Solar, Inc., a leading solar energy company specializing in the development and financing of solar electric systems nationwide, is financing and will own and operate the projects as part of a long-term development partnership that will bring additional capacity online.
Arrays will be built on Iron Mountain operation centers in California, Connecticut, New Jersey, New York and Maryland, and contribute to the company’s mission to obtain local, reliable, cost-effective, 24/7 renewable energy solutions to meet its RE100 goal of 100 percent renewable electricity for global operations.
“On-site solar is one of several important parts to our sustainability portfolio solution set designed to obtain local, reliable, cost effective, 24/7 renewable energy solutions to meet our corporate RE100 and Science Based Target goals,” said Dan Anninos VP Global FM and EM Project Delivery for Iron Mountain.
To both maximize and optimize the amount of renewables implemented for Iron Mountain, this portfolio of projects required a holistic approach. Standard Solar’s strategy, in partnership with CBRE and OnSwitch, included on-site systems, exploring remote/virtual net-metering options, community solar structures and more.
“The magnitude of this multi-state, multi-site project required Standard Solar’s extensive knowledge of state and regional energy management programs and policies, market changes and more to ensure Iron Mountain could implement as much solar as possible at each location,” said Shaun Laughlin, Head of US Strategic Development, Partnerships, Project Finance & Acquisition, Standard Solar. “Vital to the success of this portfolio were our partnerships―combined we are a powerful force helping Iron Mountain take significant steps toward its goal to offset power consumption through renewable energy sources.”
CBRE, the world’s largest commercial real estate services and investment firm, played an important role in bringing this project together. They support their real-estate clients, like Iron Mountain, in achieving sustainability goals in the buildings that they are helping to manage. Standard Solar’s national presence, with projects financed in more than 15 states, allows CBRE to target a wider geographic footprint for their clients’ sustainability goals.
“Through our partnership with Standard Solar, we have been able to build a holistic program that allows Iron Mountain to seamlessly install on-site solar in multiple states. This program is helping Iron Mountain progress towards meeting their environmental goals of RE100 and the Science Based Target Initiative in a cost effective and simple to implement method,” said Lauren Fitch CBRE Energy Manager for Iron Mountain.
Standard Solar also partnered with OnSwitch, whose patented AI-powered SkyQuotes platform makes it simpler for solar developers and building owners to evaluate, buy/finance and install commercial solar energy solutions at a guaranteed lowest price, to help maximize cost savings for the projects.
The first project in the portfolio, a 511-kilowatt rooftop array at an Iron Mountain facility in Connecticut, is expected to be fully online by the end of February.
About Standard Solar
Standard Solar, Inc. is a leading solar energy company specializing in the development and financing of solar electric systems nationwide. Dedicated to making Distributed Generation (DG) solar more accessible to businesses, institutions, governments and utilities, the company is forging the path for clean, renewable energy development through turnkey solutions. With more than 100 megawatts installed, financed and maintained, Standard Solar is one of the most trusted and respected solar companies in the US. Owned by Énergir, a leading energy provider with more than $5.8 billion US in assets, Standard Solar operates nationally and is headquartered in Rockville, Md. For more information, please visit www.standardsolar.com
About Iron Mountain
Iron Mountain Incorporated (NYSE: IRM ), founded in 1951, is the global leader for storage and information management services. Trusted by more than 225,000 organizations around the world, and with a real estate network of more than 90 million square feet across more than 1,450 facilities in over 50 countries, Iron Mountain stores and protects billions of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts. Providing solutions that include information management, digital transformation, secure storage, secure destruction, as well as data centers, cloud services and art storage and logistics, Iron Mountain helps customers lower cost and risk, comply with regulations, recover from disaster, and enable a digital way of working. Visit http://www.ironmountain.com for more information.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.us.
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KEYWORD: UNITED STATES NORTH AMERICA MARYLAND
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SOURCE: Standard Solar, Inc.
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PUB: 02/11/2020 08:30 AM/DISC: 02/11/2020 08:30 AM