Texas property developer embarks on 15-MW multifamily solar portfolio
Granite Redevelopment Properties has engaged The Solar Company to complete a 15 MW multi-family solar portfolio. At 16 apartment communities of Granite in Dallas and Tarrant provinces, the company is installing solar panels to generate electricity and offset energy costs, comprising more than 3,600 units. In addition, solar carports at nine properties will provide protection from the elements for 2,000 parking spaces while generating power.
The projects use Solis single-phase inverters and APsmart RSD-D Rapid Shutdown Devices.
“When we looked at the total project return figures, we were sold and wanted to go all-in. Not only is it a responsible decision from an environmental point of view, it also makes tremendous financial sense and adds millions of dollars to the total value of our portfolio. said Tim Gillean, president at Granite Redevelopment Properties.
The project is expected to be completed in July 2022.
“Granite is setting a trend for class B and C apartment owners – and potentially the entire multi-family industry. By eliminating one of the biggest costs for many landlords with rooftop solar panels and solar carports, the math is hard to argue with,” says Travis Wildeman, CEO of The Solar Company.
News item from The Solar Company