PALM DESERT, Calif., April 09, 2026 (GLOBE NEWSWIRE) -- PearlX, the energy infrastructure and capital partner to multifamily owners and developers, today announced the full commercial operation of a 977-kilowatt solar system at Millennium Apartments, a newly constructed 330-unit community in Palm Desert, California, developed by Metonic Real Estate Solutions and managed by Western National.
The go-live is a concrete demonstration of PearlX’s Energy Estate model, a framework that treats multifamily buildings not merely as structures that consume power, but as distributed grid assets with long-term, financeable value. Through a 25-year master lease agreement, PearlX finances, installs, and operates the full energy system at no capital cost to the property owner, paying landlords rent in exchange for the right to manage the building’s energy load and infrastructure.
As U.S. electricity prices rise at nearly twice the rate of inflation and grid capacity margins shrink under the weight of data centers and electrification, the Energy Estate reframes the problem: the nation’s 20 million multifamily units are an untapped distributed resource. Capturing that resource doesn’t require new transmission lines or new power plants, it requires the right long-term agreement.
“We are excited to be working with the energy experts at PearlX to help us boost NOI, lower resident energy costs and increase property value over the next 30 years.”
Kassie Inness, President, Metonic Real Estate Solutions
The 977-kW system serves all 330 units and common areas, includes shaded solar carports, a high-demand amenity in the Coachella Valley, and fully complies with California’s Title 24 solar mandate. Metonic, a $1.2 billion AUM real estate sponsor based in Omaha operating across 26 markets, selected PearlX as its long-term energy partner for Millennium, its first California development.
“PearlX is proud to unlock the energy estate with Metonic. Together we are building the infrastructure that enables energy affordability and grid resilience under the same investment.”
Michael Huerta, Co-Founder, PearlX Infrastructure
About PearlX
PearlX is a distributed energy infrastructure and capital partner to multifamily and commercial real estate owners. Through long-term master lease agreements, PearlX deploys and operates solar, battery storage, EV charging, and smart energy systems nationwide. We convert building assets into productive Energy Estates that generate owner income, lower resident energy costs, and contribute flexible capacity to the grid. Learn more at pearlx.com.
About Metonic Real Estate Solutions
Metonic is a private real estate investment, development, and management company based in Omaha, Nebraska. Founded in 2011, Metonic manages more than $1.2 billion in AUM across 26 markets and over 75 multifamily properties. Learn more at metonic.net.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4bf843f1-7fd8-45e3-9902-10e7b73cba6a
