Crow Holdings Renewables anticipates developing community- and utility-scale solar projects in several states, leveraging an extensive portfolio of industrial properties
DALLAS--(BUSINESS WIRE)--Crow Holdings, a leading national real estate investment and development firm, announced today the launch of Crow Holdings Renewables, a new business that aims to apply Crow Holdings’ development expertise and local presence in several of the fastest-growing solar markets across the U.S. to develop community- and utility-scale solar energy and battery storage projects across the country.
Crow Holdings Renewables is initially 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. As a business line of Crow Holdings, which has significant greenfield development experience, Crow Holdings Renewables is also well-positioned to leverage an extensive portfolio of industrial properties, with potential to add solar to millions of square feet of industrial rooftops across the country that could provide lower-cost energy to all ratepayers. 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.
“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,” said Crow Holdings CEO Michael Levy. “We are 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.”
Pelosi has been with Crow Holdings since 2019, where he has been involved with the company’s 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 held leadership positions 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. Pelosi and Marvich are joined by Riean Norman, who joins as a Vice President focused on pre-development activities in California and the Northeast. Norman has spent 11 years in the energy industry, most recently at Dimension Renewable Energy, where he had a particular concentration on deploying solar on industrial rooftops.
“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. “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 already identified and is pursuing suitable project locations in California, New Jersey, Maryland, and Illinois, with other markets to follow.
About Crow Holdings Crow Holdings is a leading real estate investment and development firm founded in 1948 and based in Dallas, Texas. With 20 offices across the U.S., Crow Holdings’ local, on-the-ground presence amplifies its hands-on capabilities across a broad range of investment strategies, product types, and ventures in partnership with institutional investors. Crow Holdings has $29 billion in assets under management, one of the largest multifamily and industrial development platforms in the nation, investments across the energy sector including solar and battery storage projects, and a broad, diversified investment portfolio, pursuing compelling investment opportunities to capitalize on evolving, secular growth potential. For 75 years, Crow Holdings’ success has been rooted in its founding principles of partnership, collaboration, and alignment of interests. For more information, please visit: www.crowholdings.com.
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