May 24, 2010 | 0 Comments
SunEdison has reached agreement with Weingarten Realty Investors, a real estate investment trust, for the deployment of up to 10 megawatts (MW) of solar photovoltaic (PV) solar power plants in Arizona and New Mexico.
By leasing space on Weingarten's rooftops SunEdison will install and operate solar energy systems that will allow Weingarten to convert underused roof space into a source of new revenue. Once a system is operational, Weingarten Realty Investors will purchase the energy for common areas or allow their tenants to purchase power generated through the program at or below average retail energy rates.
SunEdison and Weingarten are currently investigating additional deployment opportunities in other regions of the United States.
"This program with SunEdison will provide Weingarten and its tenants with predictable energy costs," said Bill Goeke, Sr. VP of property management of 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."
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