SunEdison and Developers Diversified Realty have embarked on what is being called the largest solar distributed generation program of its kind. The North American solar energy services provider has obtained the rights to deploy PV systems on rooftops at shopping centers developed and managed by the Cleveland-based real estate investment trust.
The potential capacity of the program could run as high as 259 MW, covering up to an estimated 30 million square feet.
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The program will enable DDR to incorporate solar PV systems through a multiphase deployment at the company’s shopping centers, starting with those in California, Colorado, New Jersey, and Puerto Rico. As part of the long-term partnership, SunEdison has the option to develop solar energy systems at hundreds of DDR’s shopping centers in the United States and Puerto Rico, the companies said.
Once a system is operational, DDR will be able to purchase energy for common area uses, according to the terms of the deal. Shopping center tenants can also benefit and realize energy savings by opting to purchase the power generated through the program at rates lower than retail energy rates.
“Developers Diversified is a forward-thinking real estate company—bringing clean solar energy to its properties for the benefit of its tenants and the environment through the largest distributed generation program of its kind,” stated Brian Jacolick, SunEdison’s generaql manager, Americas. “It’s a way for Developers Diversified and its tenants to reduce operating costs.”
“This program is part of our continued commitment toward sustainability and energy efficiency at our assets,” said Daniel B. Hurwitz, president/COO of DDR, which owns and manages approximately 720 retail operating and development properties in North America and elsewhere. “With a portfolio our size, the impact that energy savings can have on the environment and for our tenants is significant.”
Financial terms of the agreement or details of system installations and timelines have not been disclosed.
