NEW YORK, NY--(Marketwired - October 22, 2013) - Safari Energy, LLC is now providing solar services to six of the top ten largest publicly traded REITs within their segment, as measured by market capitalization. Including the largest diversified REIT, the second largest storage provider, three of the six largest regional shopping center owners and the second largest mall owner. Implementation of over 60 projects for these companies puts them among the greenest companies in the U.S., and makes Safari the leading provider within the segment, and, according to the Solar Energy Industries Association's 2013 Solar Means Business report, it means that many of these REITs would now be considered in this exclusive listing.
This marks a paradigm shift in how the country's most sophisticated real estate owners are producing and consuming their power, and marks a major milestone for Safari Energy, a leading provider of commercial, distributed generation solar services including commercial development, engineering, construction and financing.
"REITs in the United States own and operate billions of square feet of retail, industrial and office space, Safari is proud to help them green their operations as these key institutions lead the way in revolutionizing how the country produces and uses power," says Matthew Rudey, Safari's CEO.
Getting solar projects built under the REIT structure is not easy. Because of their tax status, REITs cannot easily monetize federal or state tax incentives, but instead have to create taxable REIT subsidiaries, or work with third party financers like Safari to maximize the financial benefits of owning and operating solar assets. In addition, REIT tenants often have rights to their roof space, making it a collaborative effort where tenants and REITs may have to work together to structure deals where the investment trust owns and operates the system and sells power to its tenants. Safari helps structure and execute these complex transactions.
About Safari Energy
Founded in 2008, Safari Energy is a distributed generation focused solar developer, builder and financier, with over 25MW to its credit in U.S. markets from New York, to Hawaii. Safari specializes in large portfolio development, maximizing asset value for its clients, which include a majority of U.S. REITs, the largest, most sophisticated real estate owners in the U.S.