Federal Realty Says Rooftop Solar Generating Double Digit Returns

Ronald Becker, director of national operations and sustainability at Federal Realty Investment Trust (NYSE: FRT), participated in a video interview at Nareit’s ESG Forum 2019 at the Hyatt Regency Coconut Point in Bonita Springs, Florida.

Becker highlighted the importance of sustainability to Federal Realty, noting that it is “embedded in every decision we make.”

Federal Realty was one of the first adopters of rooftop solar systems, with its first projects going online in 2012. The REIT now has a little more than 13 megawatts in operation at 24 properties, with about $30 million invested, Becker noted.

The REIT has another five to six projects expected to come online between the second and third quarters of 2019, increasing rooftop solar power production to nearly 18 megawatts. At the same time, Federal Realty is seeing double digit returns from these projects, which creates long-term value for investors, Becker noted.

Meanwhile, Becker stressed the importance of corporate governance, noting that it “creates the framework for how decisions are made, how you communicate that through the organization, and how you hold people accountable.”