Partnership With SunEdison To Activate Solar Power Projects
In 2009 DDR partnered with solar energy service provider SunEdison in an effort to advance its solar power program. The arrangement benefits SunEdison by giving it the right to use its own systems at 130 shopping centers (which will then generate revenue by being accessible to tenants). The partnership provides DDR with an extra source of operating income (SunEdison will pay for use of rooftop space) and cheaper power (energy expenditures for commonly used areas are expected to be lower). Phase 1 of the project began in New Jersey where eight locations will generate 1.4 KWh per year.
Read more about this topic: DDR Corp.
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