Developers Diversified Realty to install 7 solar arrays in New Jersey, Colorado
(ADPnews) - Sep 23, 2010 - US real estate investment trust Developers Diversified Realty Corp (NYSE:DDR) said today it would add seven solar arrays to its existing installations in New Jersey and Colorado by the end of 2010, bringing solar generation to 2.6 million kWh a year.
The new systems will be installed on the roofs of two company shopping centres in New Jersey and two in Colorado. At present, the trust has eight working solar facilities in New Jersey.
With this new project, Developers Diversified's installed solar systems will cover a roof space of a total of 340,000 sq ft (31,600 sq m). For 20 years, they will produce energy of 47 million kWh, enough to meet the needs of 4,000 homes for a year.
In 2009, the trust struck a partnership agreement with US solar electricity company SunEdison LLC, a subsidiary of MEMC Electronic Materials (NYSE:WFR), for the rights to install solar facilities at more than 200 shopping centres around the US.