"The time was right to put together an initiative that has abenefit for the environment and our tenants, and produces a newrevenue stream for Developers Diversified," says Marc Feldman, vicepresident of new business development of Developers Diversified,tells GlobeSt.com. "This was unused space for rent." The companywill install solar panels at six centers in the next quarter, withan eye to 30 centers by year-end.

In essence, Feldman says, Developers Diversified will serve as alandlord for SunEdison, which owns, operates and services the panelsystems, which produce renewable energy without generating noise,pollution or greenhouse gases.

The result will provide $2.5 million in revenue to DevelopersDiversified in 2009, while the company purchases energy at a lowerprice than that of local utilities for its common area, reducingCAM charges. It also can provide the same rates to tenants who optto purchase the power. Each system also will avoid an estimated 10million pounds of carbon dioxide pollution, as well as significantamounts of nitrous oxide and methane pollutants, the company says.Backup systems will provide power when solar energy isinsufficient.