CB Richard Ellis Launches Solar Energy Service

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Real estate management firm CB Richard Ellis Group will open a new service called CBRE Solar to help commercial buildings take advantage of solar energy.

CBRE Solar will provide services to the company’s clients in the United States and Canada. Services sill include solar power purchase agreements, roof leases, solar project development services and solar investment opportunities. The new operation will work with Smart Energy Capital, a solar finance and advisory firm.

“We are in a unique position to aggregate solar projects and achieve economies of scale in equipment, installation and financing costs for the benefit of our clients,” Dave Pogue, national director of sustainability at CB Richard Ellis, said in a statement.

In mid-day trading, the price of CB Richard Ellis stock was up 58 cents, or 4 percent, to $15.01.

Headquartered in Los Angeles, CB Richard Ellis is the world’s largest commercial real estate services firm with 2009 revenues of $4.2 billion.

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