-- SCE Signs New Roof Leases For 4.8 Million Square Feet to Build a 25-MW System, Increasing ProLogis' Renewable Energy Portfolio to 50 MW Globally --
DENVER - Oct. 7, 2010 - ProLogis (NYSE: PLD), a leading global provider of distribution facilities, announced today the second phase of its 100-megawatt (MW) solar project with Southern California Edison (SCE), the largest electric utility in California, after signing new leases for roof space totaling 4.8 million square feet and a system totaling approximately 25 MW.
As announced in May 2010, ProLogis signed a master agreement with SCE to provide up to 100MW of photovoltaic installations to the utility through its rooftop solar program. Today, the companies announced that they have signed new roof leases for the second tranche of the master agreement that covers 4.8 million square feet of roof space across eight buildings.
"With these projects underway, we have now doubled our global renewable energy portfolio from 25 MW to approximately 50 MW," said Drew Torbin, vice president of renewable energy for ProLogis. "As we approach our 100-MW goal with SCE, we'd like to extend our appreciation to the utility for our longstanding partnership and for the joint synergies we have in advancing rooftop solar as one of the best ways to generate utility-scale, clean power."
ProLogis' total partnership with SCE now totals 38 MW of solar energy, which includes installations from the first tranche of this master agreement as well as a pilot project completed in 2008.
"ProLogis is a knowledgeable landlord and construction manager contributing to Southern California Edison's commercial rooftop solar project," said Rudy Perez, SCE solar project manager. "The company's innovative approach has become an important asset of our solar power program."
As with prior projects between the two companies, SCE will own and operate the system, and all generated power will feed directly into the utility's electrical system to serve its customers. ProLogis will act as the site host and provide development management services. Construction is expected to commence this fall.
ProLogis now has solar projects installed or under construction on 41 buildings throughout France, Germany, Japan, Spain and the United States, totaling 50 MW of generating capacity.
The ProLogis Renewable Energy group was officially formed in 2009 to procure new business, manage installations and provide development services for renewable energy projects globally. ProLogis has more than 450 million square feet (42 million square meters) of roof space worldwide available for photovoltaic installations.
ProLogis is a leading global provider of distribution facilities, with more than 475 million square feet of industrial space (44 million square meters) in markets across North America, Europe and Asia. The company leases its industrial facilities to more than 4,400 customers, including manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. For additional information about the company, go to http://www.prologis.com.
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