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Allstate expands investments in solar energy

Allstate Investments recently partnered with JLC Infrastructure to acquire an indirect interest in Greenskies Clean Focus, a JLC portfolio company. Greenskies is a leading developer of commercial and industrial solar-power facilities in the U.S. This partnership will support Greenskies as they continue to offer sustainable and reliable energy products to a wide range of customers including large retailers, technology companies, municipalities, schools, universities and electric utilities.

“We are excited to partner with JLC on this investment, as Greenskies’ renewable energy focus and pipeline of projects aligns with Allstate’s responsible investing focus, which considers ESG-related factors,” said Reynold Martin, managing principal for Allstate Investments and member of the Responsible Investing Committee. “Our partnership with JLC, an investment manager with long-standing experience in renewable energy, also reflects Allstate’s focus on supporting diversity in financial services.”

This investment is one of several that Allstate has in solar. Another such investment closed in 2016 with Basalt Infrastructure Partners, which has delivered more than 100MW of operating solar assets to date.

The JLC partnership aligns with Allstate’s long-standing environmental commitments, which can be explored in detail in our annual CDP response.