New Energy Equity, a developer and financier of community and commercial solar projects, has completed 14 solar projects of Public Storage, California-based self storage company, across Minnesota.
The 14 projects have a combined installed capacity of 2.28 MW and includes a 0.35 MW solar array in commercial operation at Public Storage’s Como St. Paul facility. The rooftop projects are expected to generate approximately 2,750 MWh of electricity annually, the equivalent of powering 379 homes for one year.
“These solar projects will not only contribute to a cleaner grid but also provide long-term economic benefits to Public Storage,” said Nick Kerwin, Senior Vice President at New Energy Equity’s Commercial and Industrial division, in a statement.
Public Storage intends to install solar on over 1,300 of its properties by 2025.
"We are excited to see these solar projects come to fruition," said Gareth Thomas, VP Asset Management at Public Storage. “As we continued to look for opportunities to expand our solar fleet, New Energy Equity demonstrated we could deploy solar on enough Minnesota sites to make a meaningful contribution to meeting our solar installation goals.”
The company is a real estate investment trust which acquires, develops, owns and operates self-storage facilities nationwide. Those include interests in 3,049 self-storage facilities across 40 states.
