Safari Energy, part of the PPL Corporation family of companies, has delivered more than 6.7 MW of commercial solar power capacity for Extra Space Storage at 58 sites in nine states.
The projects are located in a variety of high value solar markets, requiring sophisticated incentive management of feed-in tariff and rebate programs, ZREC solicitations and SREC markets and multiple value transfer methods, including remote net metering.
“Extra Space Storage has been a terrific partner over the course of dozens of solar power projects, working with Safari Energy to unlock new revenue from existing properties,” said Matt Rudey, CEO of Safari Energy. “We’re best known for our work with leading commercial real estate owners, and self-storage is one of the many markets where Safari Energy has been successful in helping our clients capture incremental returns.”
“We are pleased that through our solar initiative we have been able to be good corporate citizens, while also creating value for our shareholders,” Said Tim Arthurs, senior VP of facilities for Extra Space Storage. “Safari Energy has been a valuable and reliable partner for several years, and we look forward to additional future projects together.”
Safari Energy completed more than 1.4 MW of projects for Extra Space Storage in the first four months of 2018 alone, and is projected to complete 5 MW more in 2018.
Across the self-storage industry in the United States, 48 million square feet of new self-storage properties are planned for 2018, with vacancy expected to remain low and average rents to climb. As the self-storage industry continues to grow, energy efficiency and clean power sources are crucial elements for companies like Extra Space Storage, which are focused on sustainability. By undertaking solar power projects, self-storage companies can not only advance their sustainability goals, but also capture incremental financial returns.
News item from Safari Energy