Texas property developer embarks on 15-MW multifamily solar portfolio

APsystems

Granite Redevelopment Properties has listed The Solar Company to complete a 15-MW multifamily solar portfolio. At 16 of Granite’s apartment communities in Dallas and Tarrant counties, the company is installing solar panels to generate electricity and offset energy costs, comprising more than 3,600 units. Additionally, 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 ran the numbers for overall project returns, we were sold and wanted to go all in. Not only is it a responsible decision from an environmental standpoint, it also makes tremendous financial sense and adds millions of dollars to the overall value of our portfolio,” said Tim Gillean, president at Granite Redevelopment Properties.

Expected project completion is July 2022.

“Granite is setting a trend for owners of Class B and C apartments — and potentially the entire multifamily industry. By removing one of the biggest expenses for many landlords with rooftop solar panels and solar carports, the math is hard to argue with,” said Travis Wildeman, CEO of The Solar Company.

News item from The Solar Company

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