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Strategic Partnership Will Pursue 8.5 Million Square Feet of Commercial Rooftop Solar across 42 States and Puerto Rico
GREENWOOD VILLAGE, Colo., August 26, 2024--(BUSINESS WIRE)--National Storage Affiliates Trust ("NSA" or the "Company") (NYSE: NSA) and Solar Landscape today announced they have entered into an agreement to pursue the installation of new solar capacity on rooftops across the Company’s properties nationwide.
NSA and Solar Landscape plan to develop at least 100 megawatts of solar capacity, which represents approximately 8.5 million square feet of rooftop space. NSA has granted Solar Landscape exclusive rights to evaluate approximately 1,000 of NSA’s properties in 42 states and Puerto Rico for the potential to host community solar.
Under the partnership, solar installations on NSA properties’ rooftops will power nearby homes and businesses at a discount through the innovative community solar model. In addition to delivering environmental benefits and lowering energy costs, the projects will create a more efficient electric grid by generating clean energy close to where it is used.
Development on the first sites in the partnership has already begun. The projects require no capital expenditure by NSA. Solar Landscape, will develop, own, and operate the projects and make a monthly lease payment to NSA.
David Cramer, NSA’s President and CEO, commented, "This is an exciting step toward our corporate responsibility goals and demonstrates our commitment to building a more sustainable future. NSA has long been customer- and community-focused. 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 NSA shareholders."
The companies have worked together since 2022.
"We look forward to working with NSA to install community solar projects on their self-storage facilities," said Solar Landscape CEO and Co-Founder Shaun Keegan. "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."
Solar Landscape also introduces people in historically disadvantaged communities to careers in solar, creating the clean energy workforce of the future. Its nationally-recognized STEP-UP (Solar Training and Education Partnerships for Underserved Populations) program partners with dozens of organizations across the country, and has trained more than 2,500 individuals.