Panasonic Eco Solutions North America and real estate investment trust Macerich have entered into a partnership to begin the first phase of a multi-property retail real estate solar power program.
Over the next 12 months, the companies will complete solar installations at a total of 12 Macerich shopping centers in Arizona, California, New York and Connecticut. Collectively, the projects are expected to yield 10.2 MW to 12 MW of clean energy.
Each of the 12 solar projects will be developed by Panasonic, and financed and owned by Panasonic's financial platform partner, Coronal Management, via one of its affiliates. The companies have not yet named the specific shopping centers that will be receiving solar installations.