Kilroy Realty Corporation

Through Black Bear’s facilitation, Kilroy successfully energized three new solar installations in San Diego in San Diego and South San Francisco in 2023. These projects brought Kilroy’s total solar capacity to over 6 MW, significantly reducing grid demand and providing clean energy directly to the properties. Kilroy has also done significant work with batteries and storage, contracting with a leading storage provider to install battery storage in office assets across Southern California. Black Bear helped structure the deal to convert demand charge cost savings into rental income for Kilory. In this structure, Kilroy receives peak demand energy services from the battery storage system, and the storage provider pays rent to KRC for the use of their battery storage host locations. The partnership with Black Bear has enabled Kilroy to expand its renewable energy portfolio efficiently, delivering cost savings and sustainability benefits to tenants while showcasing the company’s leadership in climate action.