
by Jbs021109 H3 — February 13, 2009—Public real estate giant Simon Property Group, Inc., has just completed what it says is the largest solar installation by a mall owner in the US. Simon Property Group entered into a power purchase agreement with Element Markets, a Houston-based developer of clean energy, for the output of a 173kW solar facility on the roof of The Shops at Mission Viejo in Mission Viejo, California.
“This is an exciting project that will help us gain valuable experience with solar installations,” said George Caraghiaur, vice president of energy services at Simon. “As the solar industry matures and technological improvements continue to drive down the cost of installations, we expect that solar renewable energy purchases will become a cost-effective component of our sustainability strategy. We chose to partner with Element Markets as they are a leader in the field of renewable energy and carbon management.”
Construction was completed in 20 days. Melissa Palencia, the mall manager at The Shops at Mission Viejo, was impressed with the installation and operation of the new system. “The installation started during our holiday season and there wasn’t a disruption to normal business for our tenants or customers,” she said. “Now, even on a cloudy, rainy day, our solar panels provide us with up to 130 kilowatts of savings.”