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DENVER- ProLogis is looking to break into the renewable energy business. The distribution REIT has formed a new group in order to win development management services assignments for renewable energy projects globally.

Prologis’ first project under the new group is a 4.8 megawatt solar project in Spain to be installed on eight of its rooftops at ProLogis Park Sant Boi in Barcelona and ProLogis Park Alcala in Madrid. ProLogis has signed a rooftop lease agreement with Recurrent Energy for the project, which will own and operate the system and sell the energy produced to the local utility company through a feed-in tariff. ProLogis will provide construction management services in addition to receiving roof rental fees. Construction is expected to commence in October 2009.

ProLogis completed its first solar installation in France in 2005, and now has solar installations on 20 buildings covering 7.2 million square feet of roof space. The installation will be ProLogis’ third solar project in Spain; the company also has installations in Tarragona and Zaragoza. Worldwide, ProLogis has projects located in the United States, Japan, France, Germany and Spain. Upon completion of the new project in Spain, the company will have more than 11 MW of solar installations on its rooftops.

“We have more than 450 million square feet of roof space worldwide, all of which is large, flat, unobstructed and ready to be permitted,” says Drew Torbin, ProLogis’ director of global renewable energy. “Even with this new installation, we are only utilizing less than two percent of this available roof space, leaving a lot of room for us to grow this new business.”

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