SunEdison has signed an agreement with Weingarten Realty Investors for the installation of approximately 10MW of solar PV power plants. The company will lease space on Weingarten’s rooftops located in Arizona and New Mexico.
Once a system is operational, Weingarten Realty Investors will purchase the energy for common areas, allowing its tenants to benefit from energy savings by choosing to purchase power generated through the program at, or below average retail energy rates.
“This program with SunEdison will provide Weingarten and its tenants with predictable energy costs,” said Bill Goeke, senior vice president of property management at Weingarten Realty Investors. “SunEdison brings proven expertise in structuring, financing and operating large-scale solar projects. Having green buildings is obviously good for the environment, and we expect the rooftop PV systems to become a significant amenity we will use in marketing our properties.”
“Weingarten Realty Investors understands how to think creatively about deal structure and tenant amenities,” said Brian Jacolick, general manager for SunEdison. “This agreement delivers on that thinking in a way that will reduce electricity costs and enhance property values. We look forward to a long, productive partnership.”
SunEdison and Weingarten are also investigating additional deployment opportunities in other regions of the U.S.