SunEdison, a solar energy services provider in North America, has signed an agreement with Weingarten Realty Investors for the deployment of up to 10MW of PV solar power plants in Arizona and New Mexico.
MEMC Electronic Materials subsidiary SunEdison said that it will utilize Weingarten’s underused rooftops to install and operate solar energy systems that will allow Weingarten to convert the roof space into a source of new revenue.
Once a system is operational, Weingarten Realty Investors will purchase the energy for common areas, and allow their tenants to realize energy savings by choosing to purchase power generated through the program at or below average retail energy rates.
Bill Goeke, senior vice president of property management at Weingarten, said: “This program with SunEdison will provide Weingarten and its tenants with predictable energy costs.
“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.”
Brian Jacolick, general manager of SunEdison, Americas, said: “Weingarten Realty Investors understands how to think creatively about deal structure and tenant amenities. This agreement delivers on that thinking in a way that will reduce electricity costs and enhance property values.”
SunEdison and Weingarten are currently investigating additional deployment opportunities in other regions of the US.