Biz News: Installation at Irvine building to begin battery-powered energy system
Sixteen Tesla Powerpack battery systems — each weighing 4,000 pounds — will be installed at an Irvine office tower Thursday to start the world’s first fleet of hybrid-electric buildings.
The Irvine Co. and Advanced Microgrid Solutions will install the batteries by crane at 20 Pacifica. The system is intended to provide electricity during periods of peak demand, ease the need for additional power plants to replace the retired San Onofre Nuclear Generating Station and reduce electricity costs.
The Irvine Co. plans for the initiative to span its entire portfolio of more than 500 office buildings. The first phase, including up to 24 buildings in Irvine, is expected to reduce peak demand in those buildings by 25% and help provide Southern California Edison with up to 10 megawatts of reserve capacity, enough to supply power to 10,000 homes, the Irvine Co. said.
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Hotel Irvine names new general manager
Jeroen Quint, a veteran hotel executive most recently with Atlanta-based Capella Hotel Group, has been named general manager of Hotel Irvine.
In his new position, Quint, a native of the Netherlands, will oversee day-to-day operations of the 536-room hotel at 17900 Jamboree Road.
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Bank hires new managing director in Newport
Ziegler, a specialty investment bank and full-service brokerage firm, has hired John Solarczyk as a managing director in its Newport Beach office.
Solarczyk brings more than 20 years of banking experience to Ziegler. He previously served as a public finance banker and underwriter, spending most of his career as a banker at De La Rosa & Co.
“I’m excited to join a firm with the 100-year history and well-earned reputation of Ziegler, especially as the public finance landscape is constantly growing more challenging,” Solarczyk said in a statement.
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Sares-Regis fund acquires Covina apartment complex
A 216-unit apartment development in Covina is the first acquisition by the Sares-Regis Value-Add Multifamily Fund II, sponsored by Irvine-based Sares-Regis Group, a privately held firm that acquires, develops and manages residential and business space.
The 11-acre Vista Pointe Apartment Homes community, which the fund purchased from TIAA-CREF, was developed in 1985. It has tennis courts, pools, spas and two dog parks.
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Union leaders join statewide board
Two Orange County labor leaders have joined the California Labor Federation’s executive board.
Jennifer Muir, general manager of the Orange County Employees Assn., and Julio Perez, executive director of the Orange County Labor Federation, received the appointments.
The California Labor Federation is composed of more than 1,200 unions from a variety of fields, including the public sector, healthcare and construction.
—From staff reports