NORTH MIAMI BEACH, Fla. & WEST BRIDGEWATER, Mass.–(BUSINESS WIRE)–Equity One, Inc. (NYSE:EQY) and Shaw’s Supermarkets, part of the nationwide SUPERVALU® family of grocery stores, today announced the completion of a 194 kW solar array on the rooftop of Shaw’s Supermarket at Equity One’s Webster Plaza in Webster, Massachusetts. This project marks the first of four anticipated solar energy projects between Equity One and SUPERVALU. Equity One worked with LB Energy Partners and American Capital Energy on the development and installation of this project, respectively.
“We are excited to launch our solar initiative with Supervalu and are very pleased with the advancement of our sustainability initiatives”
The array includes approximately 750 solar panels that generate approximately 226,000 kWh of solar energy each year. From a sustainability perspective, this project is estimated to reduce 179 tons of carbon emissions per year, equivalent to removing 31 cars and light trucks from the road or planting 35 acres of forest each year.
“We are excited to launch our solar initiative with Supervalu and are very pleased with the advancement of our sustainability initiatives,” said Jeff Olson, Chief Executive Officer of Equity One. “This program allows us to provide electricity to our tenants at a discount while simultaneously generating attractive returns for our investors.”
“Shaw’s is committed to environmental stewardship and we are pleased to have worked with Equity One on the installation and activation of these solar panels at our store,” said Larry Wahlstrom, president, Shaw’s. “We look forward to working with Equity One on the continued development of these types of sustainable initiatives.”
A live display of energy and power reports produced directly from the solar panels on top of Webster Plaza can be found at www.equityone.net/solar.aspx.
SUPERVALU was recently awarded with the Environmental Protections Agency ’s GreenChill Distinguished Partner Award, its “Best of the Best” (Certified Store) Award for SUPERVALU’S new Chestnut Hill Star Market (Chestnut Hill, MA) and the Environmental Achievement Award for achievement of the company’s annual environmental goals. SUPERVALU also recently announced collaboration with the World Wildlife Fund where the company pledged to cut its emissions of greenhouse gases by 10 percent by the end of 2012.
ABOUT EQUITY ONE, INC.
As of June 30, 2010, Equity One owned or had interests in 185 properties, consisting of 171 shopping centers comprising approximately 19.2 million square feet, three projects in development/redevelopment, six non-retail properties, and five parcels of land. Additionally, Equity One had joint venture interests in twelve shopping centers and one office building totaling approximately 1.9 million square feet. For more information on Equity One, Inc. please visit www.equityone.net.
ABOUT SHAW’S SUPERMARKETS
Shaw’s, Osco and Star Market are a division of SUPERVALU INC. Shaw’s is one of the oldest continuously operated supermarkets in the United States with its roots dating to 1860. Throughout five New England states, there are 175 store locations employing approximately 25,000 associates.
ABOUT SUPERVALU, INC.
SUPERVALU INC. is one of the largest companies in the U.S. grocery channel with estimated annual sales of $38 billion. SUPERVALU serves customers across the United States through a network of approximately 4,270 stores composed of approximately 1,160 traditional retail stores, including 820 in-store pharmacies; 1,190 hard-discount stores, of which 870 are operated by licensee owners; and 1,920 independent stores serviced primarily by the company’s traditional food distribution business. SUPERVALU has approximately 154,000 employees. For more information about SUPERVALU visit www.supervalu.com
ABOUT LB ENERGY PARTNERS
LB Energy Partners works with commercial property owners to develop and deploy solar systems nationally. LB Energy Partners specializes in PPA contract negotiations, financial assessment and modeling, procurement, and managing state and federal subsidy programs. LB Energy Partners works clients throughout the project phases from concept to implementation and after commissioning to system operations and REC contract management. To find out more, please view our website at www.lbenergypartners.com.
ABOUT AMERICAN CAPITAL ENERGY
American Capital Energy is the premiere national solar engineering, procurement and construction contractor and solar developer in the United States. Specializing in large complex roof and ground mounted systems, ACE designs, finances, installs and implements solar systems for commercial and utility clients. Founded in 2005, the company has installed more than 30 MW of PV in seven states
For more information, please visit www.americancapitalenergy.com.
FORWARD LOOKING STATEMENTS
Certain matters discussed by Equity One in this press release constitute forward-looking statements within the meaning of the federal securities laws. Although Equity One believes that the expectations reflected in such forward-looking statements is based upon reasonable assumptions, it can give no assurance that these expectations will be achieved. Factors that could cause actual results to differ materially from current expectations include changes in macro-economic conditions and the demand for retail space in the states in which Equity One owns properties; the continuing financial success of Equity One’s current and prospective tenants; continuing supply constraints in its geographic markets; the availability of properties for acquisition; the success of its efforts to lease up vacant space; the effects of natural, man-made, and other disasters; the ability of Equity One successfully to integrate the operations and systems of acquired companies and properties; and other risks, which are described in Equity One’s filings with the Securities and Exchange Commission.
