SunEdison, Developers Diversified Begin National Rooftop Solar Program


SunEdison, a subsidiary of MEMC Electronic Materials, and Developers Diversified Realty, the owner, manager and developer of a portfolio of shopping centers, have activated five solar power projects in New Jersey. This activation is the first phase of Developers Diversified's national rooftop solar program, the companies state.

Last year, SunEdison and Developers Diversified entered into a partnership that gives SunEdison the rights to deploy solar energy systems at more than 130 shopping centers throughout the United States.

Through SunEdison's REIT Solar Program, Developers Diversified will purchase the energy produced for common-area usage, while earning revenue for solar power production on the leased roof space. In addition, shopping center tenants can opt to purchase the power generated through the program.

Eight projects in New Jersey are now currently active or under construction. Once these regional sites are all active, they will generate approximately 1.4 million kWh of solar energy in the first year, the companies add.

SOURCES: SunEdison, Developers Diversified Realty

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