SunEdison Announces 259-MW Solar Program

SunEdison announced one of the largest solar distributed generation programs ever conceived with Developers Diversified Realty, a Cleveland-based real estate investment trust (REIT) engaged in the development and management of shopping centers.

Under the terms of the deal, SunEdison has the rights to deploy solar energy systems at more than 200 shopping centers, covering up to an estimated 30 million square feet. Potential capacity of the program is up to 259 MW and the centers are located in 24 states and in Puerto Rico.

Once a particular system is operational, Developers Diversified will be able to purchase energy from SunEdison. In addition, shopping center tenants can 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. It’s a way for Developers Diversified and its tenants to reduce operating costs. Furthermore, a typical-sized solar energy system in the program will avoid an estimated 10 million pounds of carbon dioxide pollution,” said Brian Jacolick, general manager, Americas for SunEdison.

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