Self-Storage Operator NSAT to Pursue Community Solar Projects

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National Storage Affiliates Trust (NSAT), a self-storage operator and real estate investment trust and (REIT), has entered an exclusive agreement with Solar Landscape to pursue community solar projects on the rooftops of approximately 1,000 NSAT facilities in 42 states and Puerto Rico. The companies plan to create at least 100 megawatts of solar-energy capacity across 8.5 million square feet of rooftop space, according to a press release.

In addition to providing electricity for NSAT’s self-storage properties, the installations will power nearby homes and businesses at a discount. The projects will lower energy costs and create a more efficient electric grid by generating clean energy close to where it’s used, the release stated.

The first community-solar project is already underway. The projects require no capital expenditure by NSAT. Solar Landscape will develop, own and operate the panels and make a monthly lease payment to the REIT, the release stated.

“This is an exciting step toward our corporate-responsibility goals and demonstrates our commitment to building a more sustainable future. [NSAT] has long been customer- and community-focused,” said David Cramer, president and CEO of NSAT. “This partnership will enable us to increase that value by generating clean energy at a discount for the households surrounding our facilities while also generating value for [NSAT] shareholders.”

“We look forward to working with [NSAT] to install community solar projects on their self-storage facilities,” added Shaun Keegan, CEO and cofounder of Solar Landscape. “Community solar is a win-win-win: It reduces the carbon footprint for communities, offers clean energy at a discount for residents and creates revenue for property owners.”

Headquartered in Greenwood, Colorado, NSAT is a self-administered and -managed REIT focused on the acquisition, operation and ownership of self-storage properties within the top 100 U.S. Metropolitan Statistical Areas. The company operates 1,052 storage facilities in 42 states and Puerto Rico. Its portfolio comprises approximately 68.8 million net rentable square feet.

Founded in 2012, Asbury Park, New Jersey-based Solar Landscape partners with real estate owners to develop, install and operate community solar projects on commercial and industrial rooftops. It has deployed more than 500 megawatts of renewable-energy projects, totaling more than $1 billion in capital investment, and leased 100 million square feet of solar panels.

Source: Businesswire, National Storage Affiliates Trust and Solar Landscape Announce New Agreement to Pursue Over 100 Megawatts of Rooftop Solar

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