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PearlX Will Bring Solar and Battery Systems to Greystar Project in Santa Clarita
PearlX, an energy infrastructure and capital partner to multifamily owners and developers, will invest $3 million to bring a solar power and battery system to Sand Canyon, a 323-unit, 582-bedroom apartment community under development by Greystar in Santa Clarita.
The company will manage the installation, upkeep and long-term maintenance of a solar and battery system at the property through a triple-net lease structure. In conjunction with Cal Solar Inc., the project’s engineering, procurement and construction partner, PearlX will provide Sand Canyon residents with a clean energy amenity.
“Now more than ever, developers are looking for ways to increase returns and lower project costs in an environment where interest rates, land costs and construction timelines have squeezed margins,” said Phillip Forrester, senior director of Sales at PearlX. “We are excited to be working with Sand Canyon on a solar roof lease program that helps to mitigate these macro trends while also providing a cutting-edge amenity to the community’s residents.”
- ◦Development
