Glimcher Realty Trust (Columbus, OH), one of the country’s premier retail REITs, announced plans for the largest single-rooftop solar photovoltaic (PV) system in North America to be built on the roof of Jersey Gardens in Elizabeth, New Jersey. The 4.8MW solar PV array will generate enough power to offset 11 percent of the electrical consumption of the mall. Jersey Gardens, with 1.3 million square feet of leasable space, is one of the largest properties in Glimcher’s regional mall portfolio.

SunPower T5 Solar Roof Tile system

The Jersey Gardens solar system will be designed, installed, and maintained by SunPower Corporation (Nasdaq: SPWRA, SPWRB), an American company that designs, manufactures and delivers the most powerful solar technology broadly available today. With an expected completion date of August 2011, SunPower will begin installing the SunPower T5 Solar Roof Tile system this February.

The T5 Solar Roof Tile is the solar industry’s first non-penetrating rooftop product that combines a high-efficiency SunPower solar panel, frame and mounting system into a single, pre-engineered unit. Tilted at a 5-degree angle, the system will approximately double the energy generated per square meter compared to other systems that are mounted flat onto commercial rooftops.

Benefits from New Jersey's SREC program

"The 4.8 MW project size fits squarely within our sweet spot of 1MW to 20MW, and the New Jersey SREC program offers attractive returns to our investors," said Stanley Chin, President and CEO of Clean Focus. The company works closely with independent developers and systems integrators to develop, finance, and operate solar systems throughout the United States.

Throughout its portfolio, Glimcher has been implementing various techniques resulting in environmentally friendly methods to conserve energy, manage or reduce waste and recycle used materials. The addition of a solar array to Jersey Gardens was made possible through a partnership with Gerding Edlen Development, Inc., an expert in creating a future in green buildings, and Gerding Edlen Sustainable Solutions, a subsidiary of Gerding Edlen and expert in sustainable development, renewable energy and financing.

According to Mark Edlen, CEO of Gerding Edlen, "Working alongside Glimcher Realty Trust to develop and manage this solar project within all its complexities from securing financing, to identifying the technology and integrating the various components to execute the final installation, exemplifies the mission of Gerding Edlen Sustainable Solutions."

PPA with Clean Focus Corporation

To realize this initiative, Glimcher entered into a power purchase agreement (PPA) with Clean Focus Corporation. Under the agreement, Clean Focus will finance and own the system. All solar renewable energy credits and environmental benefits associated with the system will be owned by Clean Focus. Jersey Gardens will buy the electricity at a predetermined, predictable price, providing a long-term hedge against rising power prices with no initial capital investment.

2011-01-17| Courtesy: Glimcher Realty Trust | solarserver.com © Heindl Server GmbH

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