The beginning phase of a large multi-property retail real estate solar power program, funded by Panasonic Eco Solutions North America and Macerich, is now starting.
Throughout the next year, solar power installations “at a total of 12 Macerich shopping centers in Arizona, California, New York and Connecticut are expected to yield 10.2 MW to 12 MW of clean energy – enough power for approximately 10,000 homes,” Kathleen Zipp of Solar Power World writes.
This new solar power focus is a part of Macerich’s “fully-integrated sustainability program.” The company established this program in 2008 to improve its practices related to “energy efficiency, water conservation, sustainable real estate development and redevelopment, waste management and green operational practices and procurement,” Kathleen adds.
The company says that it is aiming to conduct its business in a more socially responsible way; balancing environmental responsibility and social impact while at the same time driving the creation of long-term value.
All of the twelve new solar projects are being developed by Panasonic and then financed and owned by Panasonic’s financial platform partner, Coronal Management.
“Macerich offers an example of the types of projects Panasonic and Coronal will pursue,” said Jonathan Jaffrey, head of Coronal Management. “This alliance with Panasonic has created a powerful team with the resources and expertise needed to serve corporate clients like Macerich and stand behind solar installations over the long term.”
“The Macerich portfolio represents an ideal opportunity for Panasonic to deliver an end-to-end solar solution on a large scale with an ideal partner,” said Jim Doyle, President, Panasonic Eco Solutions North America. “We are delighted to have forged a strong partnership with Macerich and look forward to developing more solar opportunities across their national portfolio in the future.”
For the fate of the sons of men and the fate of beasts is the same; as one dies, so dies the other. They all have the same breath, and man has no advantage over the beasts; for all is vanity. - Ecclesiastes 3:19