Purpose of the project
With 590 million square feet of logistics and distribution space worldwide, Prologis is one of the world’s largest owners of rooftops. We interconnect solar energy projects to increase revenue from our properties, reduce demand on the grid and help meet regulatory goals for renewable energy.
In 2007, we formed the Prologis Energy Group to maximize the value of our portfolio for renewable energy generation and energy storage solutions. We partner with utilities and investors to use our rooftops to develop solar energy systems and provide renewable energy to surrounding communities. Early in 2015, we announced the completion of four new solar projects in Los Angeles as part of our multi-year solar energy development strategy. Prologis developed and built the project, which is owned and operated by D.E. Shaw Renewable Investments and Bright Plain Renewable Energy.
The Los Angeles project consists of approximately 1.1 million square feet (102,000 square meters) of rooftop solar with the capacity to feed a combined 4.2 megawatts (MW) of power directly into the Los Angeles Department of Water and Power (LADWP) electrical grid as part of the utility’s feed-in tariff (FiT) program. Prologis is one of LADWP’s largest FiT participants to date. Energy produced by this installation is expected to power approximately 1,100 homes each year in the Los Angeles area.
Since 2007, Prologis has developed more than 113 MW of renewable energy across 35 million square feet in six countries. In 2014, Prologis installed solar energy systems on 15 rooftops comprising more than 6.8 million square feet in the U.S. and Japan. Our solar installations increase revenue from our properties, reduce demand on the grid from traditional energy sources and help meet state renewable portfolio goals and standards.
"The LADWP Rooftop Solar Project creates value for our portfolio and demonstrates our commitment to helping improve the communities in which we operate. The installations completed under the LADWP feed-in-tariff program generate enough energy to power 1,100 Los Angeles-area homes each year.”
- Matt Singleton, Vice President, Global Energy and Development