CBRE Investment Management (CBREIM) unveiled its new Gridleaf Storage platform and discussed some of the ethos behind it.

Last month, CBRE announced a partnership with ENGIE in which it would take a minority stake in a 2.4 GW portfolio, comprised of 31 operating projects in ERCOT and CAISO.

Because of the market uncertainty around tax credits, Robert Shaw, managing director of CBRE Investment Management, Private Infrastructure, said that investment was the first in its new platform and it would look for additional acquisition opportunities around de-risked storage assets in the US, but also in Europe and Australia.

The presentation was given at a June 11 reception held in CBRE’s offices in New York City.

Within the US, Shaw said the platform is also looking at Southwest Power Pool (SPP) and MISO, which he considers territories with strong load demand increases, driven by data centers and other load demand sources.

If the Senate holds form and the tax credits face an immediate sunset, Shaw presented a broader macro-view of the market which would result in developers having to compress margins, while power prices would go up.

Shaw said he’s already observed PPA prices run higher in the past 6-to-12 months in the 5%-to-10% range.

More broadly, Shaw said he was looking at behind-the-meter power solutions across the CBREIM portfolio.