- link Copy Url - [ Share on twitter ](https://twitter.com/intent/tweet?text=Expanding Access to Clean Energy for New Jersey Communities https://www.3blmedia.com/markdownify/node/377326?absolute=1&via=3blnews "link to 3 B L Media's Twitter") - [ Share on linkedin ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.3blmedia.com/markdownify/node/377326?absolute=1 "link to 3 B L Media's Linkedin") - [ Share on facebook ](https://www.facebook.com/sharer/sharer.php?u=https://www.3blmedia.com/markdownify/node/377326?absolute=1 "link to 3 B L Media's Facebook") - [ email Share via email ](mailto:?subject=Expanding Access to Clean Energy for New Jersey Communities&body=ESG News from Blackstone https://www.3blmedia.com/markdownify/node/377326?absolute=1 "Share via email") [Sustainable Finance & Socially Responsible Investment](/CSR-News/sustainable-finance-socially-responsible-investment) # Expanding Access to Clean Energy for New Jersey Communities ##### Blackstone is bringing together two of its portfolio companies – Link Logistics and Altus Power – to transform empty warehouse rooftops across New Jersey into community solar projects. May 19, 2022 1:10 PM ET ![](/sites/default/files/styles/carousel_2x/public/images/Blackstone_2022.jpeg) [Blackstone](https://www.blackstone.com/insights/article/clean-energy-for-new-jersey/) Tackling climate change will require not just serious commitment, but significant capital – $100 trillion by 2050, according to experts’ estimates. This challenge presents investors with a tremendous opportunity to generate value by backing the industries, infrastructure and innovations that will power a stronger, more sustainable future. That’s why we’re thrilled to participate in the New Jersey Community Solar Energy Pilot Program. We saw a chance not only to create value by championing clean energy, but also to act as a convener, bringing together portfolio companies in different industries to form an innovative partnership. The program unites Link Logistics, formed by Blackstone in 2019 and operator of the largest portfolio of high-quality logistics real estate assets located exclusively in the U.S., and Altus Power, a leading clean electrification company backed by Blackstone since 2014. Together, Link and Altus will transform empty warehouse rooftops across New Jersey into community solar projects, advancing the state’s ambitious renewable power plans and removing nearly 30,000 tons of carbon dioxide from the atmosphere each year. The projects will be located on the rooftops of Link Logistics’ commercial and industrial facilities and installed and owned by Altus. They will also include electric vehicle charging stations at each facility. In addition to demonstrating [Blackstone’s commitment to sustainability](https://www.blackstone.com/esg-sustainability/?gclid=Cj0KCQjwxtSSBhDYARIsAEn0thQ-WDLvxzW08vGcfjUTOf2pMpPMa9bN1hVNBy0AVk9zkqCQ9SnDos4aAqDAEALw_wcB) and conviction in the investment opportunities presented by the energy transition, this project enables Link and Altus to accelerate value creation by benefitting the local communities they serve. Both companies have a longstanding presence in New Jersey, and we anticipate that the solar panels will generate approximately 35 megawatts (MW) of clean energy. This energy will be made available to over 6,000 local customers at a discount, lowering energy costs and expanding access to solar power. More than half will be allocated to historically underserved populations, connecting low- and middle-income households throughout the state with affordable renewable power. The New Jersey program is just one example of how Blackstone portfolio companies are helping drive the energy transition. With the support of Blackstone, Altus has developed, acquired and financed over 350 MW of solar power across 18 states. Link Logistics, meanwhile, is building an ESG program with goals that include adding 300 MW of new solar capacity by 2024 and achieving carbon neutral operations by 2025. Link seeks to be the partner of choice for tenants seeking to lower their carbon footprint and ultimately their operating costs. More broadly, Blackstone has committed ~$16 billion in investments since 2019 that we believe are consistent with the broader energy transition, and we see an opportunity to invest an estimated $100 billion across our businesses in energy transition and climate change solutions over the next decade. We’re also working to [reduce carbon emissions by 15%](https://www.blackstone.com/insights/article/our-next-step-in-esg-a-new-emissions-reduction-program/) in aggregate across new investments where we control the energy usage over the next three years. These efforts reflect our belief that sustainability makes our businesses stronger and more resilient, which in turn unlocks value for our investors. We’re committed to helping our portfolio companies navigate the energy transition by utilizing our capital, global reach and long-term investing expertise. Together with our portfolio companies, we believe we can deliver value by accelerating the transition to a lower-carbon future and expanding access to clean, affordable energy. *All figures as of March 31, 2022, unless otherwise indicated.* *All rights reserved. All rights to the trademarks and/ or logos presented herein belong to their respective owners and Blackstone’s use hereof does not imply an affiliation with, or endorsement by, the owners of these logos.* *While Blackstone believes ESG factors can enhance long-term value, Blackstone generally does not pursue an ESG-based investment strategy or limit its investments to those that meet specific ESG criteria or standards. Any reference herein to environmental or social considerations is not intended to qualify our objectives to maximize risk-adjusted returns.* [![Blackstone logo](/sites/default/files/Clients/Blackstone_Standard.png)](/profiles/blackstone) ### More from Blackstone ###### [Blackstone Charitable Foundation Commits $2 Million To Four Historically Black Colleges and Universities in North Carolina and Maryland](/news/blackstone-charitable-foundation-commits-2-million-four-historically-black-colleges-and) Nov 7, 2022 12:10 PM ET ###### [Alternative Views: Four Takeaways From a Conversation on the Energy Transition](/news/alternative-views-four-takeaways-conversation-energy-transition) Oct 18, 2022 11:00 AM ET ###### [Blackstone Charitable Foundation Announces $3M Grant To Significantly Expand Career Accelerator With Blackstone Career Pathways Partner Year Up](/news/blackstone-charitable-foundation-announces-3m-grant-significantly-expand-career-accelerator) Oct 17, 2022 5:10 PM ET ###### [Blackstone Announces Commitment to 2,000 Refugee Hires Across Global Portfolio Companies and Real Estate Properties](/news/blackstone-announces-commitment-2000-refugee-hires-across-global-portfolio-companies-and-real) Sep 22, 2022 11:40 AM ET ###### [Blackstone Gives Back Through the 2022 Summer of Service](/news/blackstone-gives-back-through-2022-summer-service) Aug 30, 2022 12:30 PM ET ###### [Blackstone Infrastructure's Portfolio Company Atlantic Power Transmission LLC Announces Partnership With Offshore Energy Industry Expert Morrison Energy to Invest in New Jersey's Workforce and Bring Jacket Foundation Fabrication to the State](/news/blackstone-infrastructures-portfolio-company-atlantic-power-transmission-llc-announces) Aug 10, 2022 11:20 AM ET ###### [Esdec Solar Group Announces Strategic Investment from Blackstone](/news/esdec-solar-group-announces-strategic-investment-blackstone) Jul 29, 2022 4:00 PM ET ###### [More Than Just a Job: Marcus Felder on Blackstone's Career Pathways™ Program](/news/more-just-job-marcus-felder-blackstones-career-pathwaystm-program) Jul 14, 2022 10:05 AM ET