Regency Centers, a national owner, operator and developer of grocery-anchored shopping centers, in partnership with SoCore Energy and several of its retail partners, has announced the installation of over 750 kW of rooftop solar at California locations.
The systems, located at Persimmon Place in Dublin and East Washington Place in Petaluma, total approximately 2,500 modules and are expected to produce over 1,200,000 kWh of clean electricity each year.
“This is a win-win scenario for Regency, our retail partners that are participating in this unique offering, and the environment,” says Mark Peternell, vice president of sustainability for Regency Centers. “We generate income from an unused portion of the shopping center roof, and the participating retailers save on their monthly electricity expenses.”
With Regency owning the solar system and the real estate, the company says it is able to offer shorter power purchase agreement terms than more traditional solar developers.