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SunEdison Announces Largest Distributed Generation Solar Program with Developers Diversified Realty |
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Under SunEdison's REIT Solar Program, SunEdison Can Deploy PV Solar on More Than 200 DDR Properties
BELTSVILLE, MD (January 7, 2009) - SunEdison, North America's largest solar energy services
provider, today announced the largest solar distributed generation program with Developers Diversified Realty (NYSE:DDR), a Cleveland-based real estate investment trust (REIT) actively engaged in the development and management of shopping centers.
SunEdison has the rights to deploy solar energy systems at more than 200 shopping centers, covering up to an estimated 30 million square feet, located in 24 states and in Puerto Rico. Potential capacity of the program is up to 259 MW.
Once a system is operational, Developers Diversified will be able to purchase energy for common area uses. 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.
Developers Diversified Realty currently owns and manages approximately 720 retail operating and development properties in 45 states, plus Puerto Rico, Brazil, Russia and Canada, totaling approximately 159 million square feet. Developers Diversified is a self-administered and self-managed REIT operating as a fully integrated real estate company that acquires, develops, leases and manages shopping centers. dditional information about the company is available on the Internet at www.ddr.com.
About SunEdison
Sun Edison LLC is North America's largest solar energy services provider and operates across a global marketplace. SunEdison provides solar-generated energy at or below current retail utility rates to a broad and diverse client base of commercial, municipal and utility customers. For more information about SunEdison, please visit www.sunedison.com
Rob Wyse
212.920.1470
rob@m1pr.com
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