SunEdison will lease space on rooftops of buildings owned by Weingarten Realty Investors, a publicly traded real estate investment trust, in Arizona and New Mexico, the company says. It will install and operate the solar systems, with Weingarten purchasing energy for use in buildings’ common areas or for sale to building tenants “at or below average retail energy rates”.
Weingarten likes the deal because it adds a new revenue stream, makes energy costs more predictable for tenants and adds ‘green building’ credibility.
