Project Specs:

System Size: 285 Kilowatts
Online Date: April 2011
Technology: Modules - SolarFun Pollycrystalline
Inverter: PVPowered
Location: Emerson, NJ
Property Type: Grocery Store / Strip Mall
Investor: Urstadt Biddle Properties

IPPsolar's Role:

IPPsolar structured the entire transaction Identified installer and negotiated terms Arranged loan financing from local PSE&G utility

Owner / Landlord:

The owner of this site is Urstadt Biddle Properties Inc. (NYSE: UBA, ubproperties.com), a self-administered equity real estate investment trust. UBP owns or has equity interests in 50 properties containing approximately 4.6 million square feet of space and has paid 164 consecutive quarters of uninterrupted dividends to its shareholders since its inception and raised its dividend to its shareholders for the last 17 consecutive years.

Anchor Tenant:

The tenant benefiting from clean & renwable solar energy is ShopRite / Inserra Supermarkets Inc. (www.ShopRite.com). From a beginnings of a small cooperative with eight Members, Wakefern Food Corp. (the merchandising and distribution arm for ShopRite) has grown into the largest retailer-owned cooperative in the United States and the largest employer in New Jersey. The cooperative is comprised of 45 members who individually own and operate supermarkets under the ShopRite banner. Today, Wakefern and ShopRite together employ more than 50,000 people throughout New Jersey, New York, Connecticut, Pennsylvania, Delaware and Maryland.
 

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