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Sustainable development

Taconic and Clarion Partners Celebrate Completion of Major Solar Power Project in Bronx

Strategic Insights

— 2 min read

Clarion Partners, in partnership with Taconic Partners, has completed a noteworthy solar power project at their Eastchester Heights residential property in the Bronx, a 1,416-unit apartment complex spanning over 14.84 acres. This project marks a significant step towards reducing the property's emissions and promoting sustainability in the Bronx community. The solar installation will produce over 1.1 million kilowatt hours of clean electricity, equivalent to removing 165 cars from the road for a year or the carbon sequestered by over 12,800 tree seedlings grown over 10 years.

Key Takeaways:

  • The solar installation at Eastchester Heights will produce over 1.1 million kilowatt hours of clean electricity, reducing the property's emissions and promoting sustainability in the Bronx community.
  • The project is a significant step towards reducing the property's carbon footprint, as it will help New York State reach its goal of 100% carbon-free electricity by 2040.
  • Taconic and Clarion have committed to exploring solar and other sustainable technologies for more of their properties, with over 30 megawatts of solar power produced annually across their portfolio.
  • The solar panel installation will help the Bronx meet its goal to reduce greenhouse gas emissions by 80% by 2050, as well as decrease emissions in an area with the highest asthma rates in the country.
  • Eastchester Heights is among the largest residential communities in the Bronx and greater New York City, with 5 city blocks and 114 individual buildings.
  • The project demonstrates Taconic and Clarion's commitment to fighting climate change and improving the environment, with Vice President of Residential Asset Management Andrew Schwartz stating that they are "committed to being a part of a solution to fight climate change."

Statistics:

  • The solar installation at Eastchester Heights will produce 1,106,323 kilowatt hours of clean electricity per year.
  • The project is equivalent to removing 165 cars from the road for a year or sequestering the carbon from over 12,800 tree seedlings grown over 10 years.
  • Over 30 megawatts of solar power is produced annually across Taconic and Clarion's portfolio.
  • The Bronx community has the highest asthma rates in the country, and this project will help reduce emissions and promote a healthier environment.
  • Clarion Partners has over $50 billion in total assets under management, with a team of 350+ domestic and international institutional investors.

Sources:

  • Clarion Partners news release, "Subtitled: Solar Panels will Bring Sustainability to Bronx Community and Environment"
  • About Taconic Partners
  • About Clarion Partners LLC
  • About Franklin Templeton
  • About Bright Power, Inc.

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