BOSTON, June 16, 2020 /PRNewswire/ -- STAG
Industrial, Inc. (the "Company") (NYSE:STAG) today announced the
groundbreaking of four new solar rooftop systems in
Massachusetts and one in New
Jersey. The projects will deliver energy to the local
electrical grid, ultimately powering homes and businesses.
Black Bear Energy facilitated the project in partnership with
STAG. These systems have an aggregate capacity of 8.5MW,
which will generate over 10 million kWh of electricity annually -
the equivalent to powering nearly 1,000 homes with solar.
With the addition of these sites, STAG now hosts over 10 MW of
solar nationally. The MA projects are being developed by
Nautilus Solar Energy, LLC as part of the Solar Massachusetts
Renewable Program (SMART) - a program to cost-effectively bring new
distributed solar resources in the state.
"We are headquartered in Boston
and have been excited about hosting solar in our home state since
the announcement of the Massachusetts SMART Program years
ago. The SMART program enabled us to leverage our square
footage and to provide resources for the local community, helping
us to demonstrate our commitments to sustainability with local
concrete action," said Brian LaMont,
Senior Vice President of Construction at STAG.
Construction on all of the MA and NJ solar sites commenced in
early Spring and all of the solar systems are expected to be online
by the fourth quarter of 2020 or earlier. STAG is actively pursuing
solar opportunities nationwide, with executed contracts across
several states in development.
"We are honored to be working with STAG on these projects.
Hosting solar on industrial buildings challenges the mindset that
these assets are solely hubs for distributing goods. It
showcases the opportunity to deliver local, clean energy to
surrounding communities while creating value for the
landlord. That's the beauty of onsite solar," commented
Drew Torbin, Black Bear Energy's
Chief Executive Officer. "It's exciting to have commenced
construction as these sites are expected to be some of the first
MA SMART rooftop solar projects
qualified for community solar to come online," added Jeffrey Cheng, President of Nautilus Solar
Energy.
About STAG Industrial, Inc.
STAG Industrial, Inc. is
a real estate investment trust focused on the acquisition,
ownership and operation of single-tenant, industrial properties
throughout the United States. As
of March 31, 2020, the Company's
portfolio consists of 456 buildings in 38 states with approximately
91.8 million rentable square feet.
For additional information, please visit the Company's website
at www.stagindustrial.com.
About Black Bear Energy
Black Bear Energy is a
technology-enabled, commercial buyer's representative specializing
in onsite renewable energy and cleantech services. In the
past five years, Black Bear has helped its clients bid out over
1,000 clean technology projects in more than 20 states through its
data driven process. For more information about Black Bear
Energy, visit BlackBearEnergy.com. For press inquiries, contact
info@blackbearenergy.com.
About Nautilus Solar Energy
Nautilus Solar Energy, LLC ("Nautilus") is a leading
owner-operator of distributed generation and community solar
projects located throughout North
America. Over its 14-year history, the Nautilus team has
successfully developed, acquired, managed, and invested
over $1.2 billion of capital into
solar projects. Nautilus is wholly owned by Power Energy
Corporation, a subsidiary of Power Corporation of Canada (TSX:POW), a global diversified
management and holding company. Join Nautilus on LinkedIn, Facebook
and Twitter and/or visit www.nautilussolar.com for more
information.
Forward-Looking Statements
This press release, together with other statements and
information publicly disseminated by the Company, contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The Company intends
such forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in the Private
Securities Litigation Reform Act of 1995 and includes this
statement for purposes of complying with these safe harbor
provisions. Forward-looking statements, which are based on certain
assumptions and describe the Company's future plans, strategies and
expectations, are generally identifiable by use of the words
"believe," "will," "expect," "intend," "anticipate," "estimate,"
"should," "project" or similar expressions. You should not rely on
forward-looking statements since they involve known and unknown
risks, uncertainties and other factors that are, in some cases,
beyond the Company's control and which could materially affect
actual results, performances or achievements. Factors that may
cause actual results to differ materially from current expectations
include, but are not limited to, the risk factors 2 discussed in
the Company's annual report on Form 10-K for the year ended
December 31, 2019 as updated by the
Company's quarterly reports on Form 10-Q. Accordingly, there is no
assurance that the Company's expectations will be realized. Except
as otherwise required by the federal securities laws, the Company
disclaims any obligation or undertaking to publicly release any
updates or revisions to any forward-looking statement contained
herein (or elsewhere) to reflect any change in the Company's
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is
based.
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SOURCE STAG Industrial, Inc.
