Jul 09, 2020

Safari Energy boosts clients’ solar goals

Safari Energy, PPL’s renewable energy development company, recently helped one client reach a brilliant milestone.

Safari completed 100 solar projects with Extra Space Storage. Spanning over a dozen states and more than 10 megawatts of capacity, the projects have to date produced more than 33 giga-watt-hours of solar power, the equivalent of offsetting emissions from 5,000 cars driven each year.

“At Extra Space, we are committed to sustainability. Solar is a key piece of our sustainability initiatives, and we’re glad to work with great partners like Safari Energy,” said Joe Margolis, chief executive officer of Extra Space Storage. “We’ve found solar projects – like the 100 we’ve installed with Safari – to be an easy decision for us, because it’s at the intersection of what is good for the environment, what is good for the community and what is good for our shareholders.”

The largest of the 100 projects is a 531-kilowatt rooftop solar system located in Central Valley, New York, where the project team was able to leverage a net energy metering program to provide excess electricity from the system to neighboring grid customers. On average, the solar projects that Safari Energy developed for Extra Space offset more than 80% of each site’s energy use, with approximately 20 sites offsetting more than 95% of their energy use.

Safari Energy’s sophisticated approach to financial structuring, coupled with its extensive real estate expertise, has translated into attractive yields and savings for commercial and industrial clients. These clients span multiple industry sectors, including the self-storage, retail, warehousing, business center, medical office and public sectors. In addition to developing solar projects, as Safari Energy did for Extra Space Storage, the company also provides funding for solar projects developed by partners and clients throughout the project lifecycle.

Since 2008, Safari Energy has developed hundreds of commercial-scale solar projects that have generated approximately 300 million kilowatt hours of electricity, or the equivalent of avoiding more than 200,000 metric tons of CO2 emissions.