SECAUCUS, N.J., Oct. 18, 2012 /PRNewswire/ -- Panasonic Eco
Solutions North America and Macerich (NYSE:MAC), 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 Macerich portfolio represents an ideal opportunity for
Panasonic to deliver an end-to-end solar solution on a large scale
with an ideal partner," said Jim
Doyle, President, Panasonic Eco Solutions North America. "We
are delighted to have forged a strong partnership with Macerich and
look forward to developing more solar opportunities across their
national portfolio in the future."
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.
"Macerich is committed to creating long term value
by improving our natural resource
efficiency, and operating and developing our properties
in a sustainable and environmentally sound manner. Our partnership
with Panasonic embodies this philosophy," said Eric
Salo, Executive Vice President, Macerich. "Installing
clean energy
technology at our properties also aligns
with our commitment to our retailers, our partners,
and the communities where we operate."
"Our partnership with Panasonic allows us to deliver on our
commitment to sustainability with a large-scale solar program that
is environmentally responsible and delivers
attractive financial returns: it's just good business," said
Jeff Bedell, Vice President -
Sustainability, Macerich.
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.
"Macerich offers an example of the types of projects Panasonic
and Coronal will pursue," said Jonathan
Jaffrey, head of Coronal Management. "This alliance with
Panasonic has created a powerful team with the resources and
expertise needed to serve corporate clients like Macerich and stand
behind solar installations over the long term."
About Panasonic Eco Solutions North America
Panasonic
Eco Solutions North America is a division of Panasonic Corporation
of North America, the principal
North American subsidiary of Panasonic Corporation (NYSE: PC). Eco
Solutions develops and provides customized and integrated
technology-based systems solutions, including the design,
implementation and financing of renewable energy and energy
efficiency projects, for customers in a number of industries
including sports, entertainment and education among others, in both
the U.S. and Canada.
Panasonic has pledged to practice prudent, sustainable use of
the earth's natural resources and protect our environment through
the company's Eco Ideas programs. The company is committed to
becoming the electronics industry's leader in green innovation by
its one-hundredth anniversary in 2018. In the 2012 Interbrand
Annual Best Global Green Brands ranking, the Panasonic brand jumped
four spots to number six:
http://www.interbrand.com/en/best-global-brands/Best-Global-Green-Brands/2012-Report.aspx
About Macerich Corporation
Macerich (NYSE: MAC) is a
fully integrated self-managed and self-administered real estate
investment trust, which focuses on the acquisition, leasing,
management, development and redevelopment of regional malls
throughout the United States.
Additional information about Macerich can be obtained from the
company's website at www.macerich.com.
About Coronal Management, LLC
Coronal Management LLC
is an alternative energy company focused on bringing solar power to
public, private and nonprofit organizations throughout North America. Launched by the founders of RSB
Funds (www.RSBFunds.com), a prominent, Denver-based solar development and finance
company, Coronal leverages its exclusive strategic partnership with
Panasonic Eco Solutions North America to provide end-to-end
financing solutions and best-in-breed EPC (engineering, procurement
and construction) services, operations and maintenance for
distributed generation solar projects. For more information contact
info@coronalmanagement.com
SOURCE Macerich Corporation