DALLAS and SAN FRANCISCO, Nov. 2, 2016 /PRNewswire/ -- Invesco Real Estate, the $71 billion real estate arm of leading investment management firm Invesco, today announced a partnership with Advanced Microgrid Solutions (AMS) to introduce Hybrid Electric Building® technology to the firm's California real estate portfolio. Under the initial agreement, AMS will design, install and operate advanced energy storage systems at Invesco's commercial buildings in Southern California, while analyzing the firm's entire US portfolio for further deployments. The project will reduce energy demand costs at the buildings by 30% and provide critical support to the state's electric grid.
"In my opinion, Invesco is one of the largest and most forward-thinking real estate investors in the world," said Susan Kennedy, Chief Executive Officer of AMS. "This initiative is a great example of a corporate leader stepping up to help build a stronger, more resilient grid when – and where – it is needed most."
Hybrid Electric Buildings use best-in-class energy storage technology and advanced analytics software to improve energy efficiency, lower energy bills and reduce greenhouse gas emissions. During times of high energy demand and correspondingly high costs, AMS's proprietary software platform seamlessly shifts buildings from the electric grid to onsite energy storage systems. This reduces load on the grid and minimizes the need for carbon-emitting peaker power plants that are often the highest-polluting generation resources for a utility. Hybrid Electric Buildings benefit from lower operating expenses while enabling a cleaner and more resilient electrical grid – a win for building owners and utility customers alike.
Invesco's first Hybrid Electric Buildings will be located in Aliso Viejo and will be powered by state-of-the-art energy storage systems from Tesla. The systems, ranging in size from 250kW/1,500kWh to 500kW/2,000kWh, will be installed in late 2017 and will provide capacity to Southern California Edison in the highly constrained Aliso Canyon region.
About Advanced Microgrid Solutions
Advanced Microgrid Solutions (AMS) is pioneering the use of energy storage systems for electric utility grid support. Using a technology-agnostic approach, the company designs, finances, installs and manages advanced energy storage solutions for commercial, industrial and government building owners. AMS's unique fleet management software provides optimized resource management, cost reduction and revenue generation for large-scale energy users. To learn more, visit www.advmicrogrid.com.
About Invesco Real Estate
Invesco Real Estate is a global leader in the real estate investment management business with $71 billion in real estate assets under management, 441 employees and 21 regional offices across the U.S., Europe and Asia. The firm was established in 1983 and has been actively investing in core, value-add and opportunistic real estate strategies since 1992. Invesco Real Estate is a business name of Invesco Advisers, Inc. which is an indirect, wholly owned subsidiary of Invesco Ltd., (NYSE: IVZ), one of the largest investment management firms in the world with $820 billion in assets under management and on-the-ground presence in 25 cities worldwide. Information as of September 30, 2016.
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SOURCE Advanced Microgrid Solutions