Washington Prime and Safari Energy Partner in Solar Project

Washington Prime Group (NYSE:WPG), retail REIT announced that it will be entering a solar installation project for two major malls in New York and California. The project is being developed in partnership with solar energy company, Safari Energy.

As quoted in the press release:

With the approximately 1,100kW rooftop solar system at Jefferson Valley Mall and approximately 1,300 kW system at Weberstown Mall, the Company will convert unused roof space into a productive source of energy for the centers. The system at Jefferson Valley is in the process of being installed, and the system at Weberstown Mall is expected to be installed in 2020. While significant cost savings are not expected for Washington Prime Group or its tenants, the systems combined are expected to generate over 2.5 million kilowatt hours of green energy per year, the lifetime equivalent of eliminating more than 80,000 barrels of oil.

These will be the first rooftop solar installations for Washington Prime Group. The Company is exploring all opportunities to create shareholder value, as well as reducing its carbon footprint and energy consumption throughout its portfolio as part of its ESG Sustainability efforts. The Company is working with Safari Energy to explore additional solar opportunities at other town centers.

Click here to read the full press release.