Oct 26, 2012– New York, USA (Techreleased) – Panasonic Eco Solutions North America and Macerich, have aligned to begin the first phase of a multi-property retail real estate solar power program. Over the next 12 months, solar installations at a total of 12 Macerich shopping centers in Arizona, California, New York and Connecticut are expected to yield 10.2MW to 12MW of clean energy – enough power for approximately 10,000 homes.
The solar power initiative is part of Macerich’s fully-integrated sustainability program, established in 2008, which focuses on energy efficiency, water conservation, sustainable real estate development and redevelopment, waste management and green operational practices and procurement. Macerich strives to conduct its business in a socially responsible manner that balances considerations of environmental and social issues while also creating long-term value.
Each of the 12 solar projects will be developed by Panasonic and financed and owned by Panasonic’s financial platform partner, Coronal Management, via one of its affiliates.