Crow Holdings, a Dallas-headquartered national real estate investment and development firm, has launched Crow Holdings Renewables, a new business to develop community- and utility-scale solar energy and battery storage projects nationwide. It will do that first by putting the rooftops of its industrial holdings to work at harvesting energy.
The company said it will apply its development expertise and local presence to establish the business in several of the fastest-growing solar markets across the U.S. Crow Holdings Renewables is co-led by Laurence Pelosi, senior managing director at Crow Holdings, and Tim Marvich, who recently joined the company as a managing director.
‘Strong footholds’ in some of the fastest-growing solar markets in the U.S.
“The country’s energy transition and renewables have demonstrably expanded opportunities in recent years, through federal and state support, improving technologies, declining costs, and customer engagement,” CEO Michael Levy said in a statement. “We’re seeing material growth across the sector that we expect to continue for the foreseeable future, and we are excited to launch Crow Holdings Renewables at such a critical time. With strong footholds in some of the fastest-growing solar markets in the U.S.—and with highly capable leaders in Laurence and Tim as part of a growing team for the business—we plan to meaningfully contribute to the development of renewable energy solutions for communities and businesses across the country.”
Initially, Crow Holdings Renewables is focused on the entitlement and development of community solar projects (and related battery storage solutions) averaging 5 Megawatts (MW) and mid-sized, utility-scale projects averaging 25 MW.
Adding solar panels to ‘millions of square feet’ of industrial rooftops
As a business line of Crow Holdings, which has significant greenfield development experience, the company said that Crow Holdings Renewables is also well-positioned to leverage an extensive portfolio of industrial properties by adding solar to millions of square feet of industrial rooftops across the country that could provide lower-cost energy to many homes and businesses.
Helping ‘meet the energy needs of hundreds of businesses and thousands of residential customers’
The company said that Pelosi has been with Crow Holdings since 2019, where he has been involved with its investment strategies in energy and infrastructure, among other areas. Pelosi has more than 20 years of experience in the real estate industry, including senior positions with Morgan Stanley Real Estate and Lennar, as well as partnerships with Goldman Sachs and other private equity funds.
Marvich has a 17-year track record in renewable energy development and previously had leadership roles at Apex Clean Energy, where he created the company’s distributed energy business, and NextEra Energy Resources, where he led the distributed energy early-stage development team.
Marvich was also a utility-scale wind and solar developer with EDP Renewables across the western United States.
Crow Holdings said that Pelosi and Marvich are joined by Riean Norman, who joins as a vice president focused on pre-development activities in California and the Northeast.
“The launch of Crow Holdings Renewables is a natural outgrowth of our seven-plus-decade legacy in development, our ability to evaluate the entire real estate market, and our proven success in pursuing the right opportunities,” Pelosi said in a statement. “We’ve had tremendous interest from our partners and industrial tenants in providing lower-cost energy, and we have an opportunity to help meet the energy needs of hundreds of businesses and thousands of residential customers across the country.”
The Crow Holdings Renewables team has identified and is pursuing suitable project locations in California, New Jersey, Maryland, and Illinois, with other markets to follow, the company said.
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