SunEdison, a subsidiary of MEMC Electronic Materials (NYSE:WFR), announced an agreement with Weingarten Realty Investors (NYSE:WRI) for the deployment of up to 10 megawatts (MW) of photovoltaic (PV) solar power plants in Arizona and New Mexico.
SunEdison will lease rooftop space from Weingarten to install and operate solar energy systems. Once a system is operational, Weingarten Realty Investors will purchase the energy for common areas, and/or allow their tenants to purchase the power.
Bill Goeke, Senior Vice President, Property Management of Weingarten
Realty Investors, said the program will provide Weingarten and its tenants with predictable energy costs.
SunEdison and Weingarten are currently investigating additional deployment opportunities in other regions of the United States.
Weingarten owns or operates about 375 including 307 neighborhood and community shopping centers in 22 US states. The company also owns 76 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties located in Arizona and Texas.
Utility Southern California Edison (NYSE: EIX) recently signed an agreement with ProLogis (NYSE: PLD) to build up to 100 MW of rooftop solar systems on top of the company’s distribution centers.
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