Developers Diversified Realty Announces Continuation of Its Rooftop Solar Panel Program with New Arrays in New Jersey and Colorado

BEACHWOOD, Ohio, Sept. 23 /PRNewswire/ -- Developers Diversified Realty Corporation (NYSE: DDR) today announced that the company will expand its rooftop solar panel program in New Jersey and Colorado.

Seven new arrays are projected to be activated before the end of the year at two shopping centers in New Jersey: Wrangleboro Consumer Square and Hamilton Commons in Mays Landing; and two shopping centers in Colorado: University Hills and Centennial Promenade in Denver.  

The company's total planned and active arrays in New Jersey and Colorado will encompass over 340,000 square feet of roof space and will generate more than 2.6 million kilowatt-hours (kWh) of energy in the first full year of operation. Over 20 years, the sites will generate approximately 47 million kWh of energy, enough energy to power more than 4,000 homes for one year.

Developers Diversified entered into a partnership last year with solar energy services provider, SunEdison, for the rights to deploy solar energy systems at over 200 shopping centers throughout the United States.

"SunEdison is proud of our partnership with Developers Diversified," said Jaime A. Smith, Vice President of Sales for SunEdison. "We look forward to the continued development and deployment of the solar program."

The company currently has eight active solar arrays at Hamilton Marketplace in Hamilton, New Jersey; Nassau Park Pavilion in Princeton, New Jersey; and Route 22 Retail Shopping Center in Union, New Jersey.

About Developers Diversified Realty

Developers Diversified owns and manages approximately 620 retail operating and development properties in 42 states, Brazil, Canada and Puerto Rico. Totaling more than 136 million square feet, the Company's shopping center portfolio features open-air, value-oriented neighborhood and community centers, mixed-use centers and lifestyle centers located in prime markets with stable populations and high-growth potential. Developers Diversified is the largest landlord in Puerto Rico and owns a premier portfolio of regional malls in and around Sao Paulo, Brazil. Developers Diversified is a self-administered and self-managed REIT operating as a fully integrated real estate company. Additional information about the Company is available on the Company's website at www.ddr.com.

SOURCE Developers Diversified Realty Corporation

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED