BELTSVILLE, Md., May 21 /PRNewswire/ -- SunEdison, North America's largest solar energy services
provider and a subsidiary of MEMC Electronic Materials (NYSE: WFR),
today announced an agreement with Weingarten Realty Investors
(NYSE: WRI), a real estate investment trust, for the deployment of
up to 10 MW of PV solar power plants in Arizona and New
Mexico. By leasing space on Weingarten's underused
rooftops SunEdison will install and operate solar energy systems
that will allow Weingarten to convert underused roof space into a
source of new revenue. Once a system is operational,
Weingarten Realty Investors will purchase the energy for common
areas, and/or allow their tenants to realize energy savings by
choosing to purchase power generated through the program at or
below average retail energy rates.
"This program with SunEdison will provide Weingarten and its
tenants with predictable energy costs," said Bill Goeke, Senior Vice President, Property
Management of Weingarten Realty Investors. "SunEdison brings proven
expertise in structuring, financing and operating large-scale solar
projects. Having green buildings is obviously good for the
environment, and we expect the rooftop PV systems to become a
significant amenity we will use in marketing our properties."
"Weingarten Realty Investors understands how to think creatively
about deal structure and tenant amenities," said Brian Jacolick,
General Manager, Americas for SunEdison. "This agreement delivers
on that thinking in a way that will reduce electricity costs and
enhance property values. We look forward to a long,
productive partnership."
SunEdison and Weingarten are currently investigating additional
deployment opportunities in other regions of the United States.
About Weingarten Realty Investors
Weingarten Realty Investors (NYSE: WRI) is a commercial real
estate owner, manager and developer. At March 31, 2010, the company owned or operated
under long-term leases, either directly or through its interest in
real estate joint ventures or partnerships, a total of 376
developed income-producing properties and 10 properties under
various stages of construction and development. The total number of
properties includes 307 neighborhood and community shopping centers
located in 22 states spanning the country from coast to coast. The
company also owns 76 industrial projects located in California, Florida, Georgia, Tennessee, Texas and Virginia and three other operating properties
located in Arizona and
Texas. At March 31, 2010, the Company's portfolio of
properties was approximately 70.1 million square feet. To
learn more about the Company's operations and growth strategies,
please visit www.weingarten.com.
About SunEdison
SunEdison is North America's
largest solar energy services provider. The company finances,
installs and operates distributed power plants using proven
photovoltaic technologies, delivering fully managed, predictably
priced solar energy services for its commercial, government and
utility customers. For more information about SunEdison, please
visit www.sunedison.com.
About MEMC
MEMC is a global leader in the manufacture and sale of wafers
and related intermediate products to the semiconductor and solar
industries. MEMC has been a pioneer in the design and development
of wafer technologies over the past 50 years. With R&D and
manufacturing facilities in the U.S., Europe and Asia, MEMC enables the next generation of high
performance semiconductor devices and solar cells. With the
acquisition of SunEdison, MEMC is now a developer of solar power
projects and North America's
largest solar energy services provider. MEMC's common stock is
listed on the New York Stock Exchange under the symbol "WFR" and is
included in the S&P 500 Index. For more information about MEMC,
please visit www.memc.com.
Contacts:
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Brad Oswald
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Sr. Marketing
Communications Manager
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SunEdison
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boswald@sunedison.com
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Bill Michalek
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Director, IR &
Corporate Communications
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MEMC Electronic
Materials, Inc.
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636-474-5443
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Or
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Kristin Gandy
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Director of Investor
Relations
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Weingarten
Realty
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713.866.6050
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SOURCE SunEdison