ProLogis signs solar rooftop deal with SCE

ProLogis signs solar rooftop deal with SCE Industrial real estate giant ProLogis said today it has signed a deal to lease roof space from Southern California Edison, the state's largest utility.
   Under terms of the deal, Edison will build and maintain a 607,000-square-foot solar panel installation on the roof of ProLogis' Kaiser Distribution Park in Fontana by the end of this year. The installation will be able to provide enough electricity to power more than 1,400 average households for a year. Financial details of the deal were not released.
   The one- to two-megawatt solar panel installations, along with an additional five to 10 similar rooftop installations at other locations, are part of Edison's overall plan to complete 50 megawatts of solar panel installations each year for a total of 250 megawatts. These combined installations would represent the nation's largest solar facility. Each individual installation is expected to comprise about one to two megawatts of generating capacity.
   Located about 30 miles east of downtown Los Angeles, the Fontana installation would add to Denver-based ProLogis' growing inventory of solar installations, which includes panels on various ProLogis buildings throughout Europe, such as the ProLogis Park Chanteloup in France and the ProLogis Park Penedes in Spain.
   “Our experience to date in France and Spain has shown that we can effectively use rooftop solar panels to generate environmentally conscious, renewable energy, meeting the needs of local communities while also enhancing the return on investment from our properties,” said Jack Rizzo, managing director of global construction at ProLogis. “Our agreement with SCE is the first of its kind in the United States, and lays the groundwork for similar programs throughout the country. With more than 500 million square feet of roof space worldwide, we see continued potential in harnessing the power of solar energy from our rooftops.”
   ProLogis has 510.2 million square feet of owned, managed or under development distribution facilities across North America, Europe and Asia. The firm's asset portfolio of 2,773 properties as of the start of this year is estimated to be worth more than $36 billion.