Nuveen Real Estate has partnered with Safari Energy to develop the company’s solar resources, following a pledge to make all existing and future assets carbon-neutral by 2040.
In March, Nuveen announced plans to achieve net-zero carbon across its real estate portfolio by 2040, a decade ahead of the Paris Agreement. The company began working with Safari Energy in 2020, identifying more than 300 megawatts of solar potential on its real property. Since then, Safari Energy has begun two projects at Nuveen properties, including a rooftop solar system under construction at an industrial facility in Nashville, Tenn., and a hybrid solar-plus battery storage system, being added to a property in Redlands, Calif.
“Having a partner like Safari Energy supports our objective to embed ESG considerations in our investment decisions and business plans, making progress toward our net-zero carbon milestones,” said Jessica Long, head of sustainability for U.S. real estate at Nuveen.