Project Specs:

System Size: 260 Kilowatts
Online Date: December 2010
Technology: Modules - SolarFun Pollycrystalline
Inverter: PVPowered
Location: Valley Ridge Mall - Wayne, NJ
Property Type: Grocery Store / Strip Mall
Investor: Urstadt Biddle Properties

IPPsolar's Role:

IPPsolar structured the entire transaction, identified installer and negotiated terms and 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 Valley Ridge Mall Solar project is composed of two sections. Firstly, it provides clean and renewable solar energy to UBP's local professional offices building at the North end of the property. The second and larger section of the project supplies energy to the Wayne, NJ A&P Supermarket. The Great Atlantic & Pacific Tea Company (A&P apfreshonline.com), is a supermarket and liquor store chain under six different banners with hundreds of locations in 7 states. Supermarket News ranked A&P #19 in the 2010 "Top 75 Food Retailers and Wholesalers" based on 2009 fiscal year estimated sales of $9.1 billion. Based on 2009 revenue, A&P is the 34th largest retailer in the United States.

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