Company continues to invest in solar
production with new projects in 2023
SANTA
MONICA, Calif., May 25, 2023
/PRNewswire/ -- Macerich (NYSE: MAC), one of the nation's leading
owners, operators and developers of one-of-a-kind retail and
mixed-use properties in top markets, has again earned a spot on the
EPA Green Power Partnership Top 30 On-Site Generation list. The
honor recognizes the company's commitment to and investment in
generating energy to power its properties nationwide from its own
renewable sources.
Across its portfolio in 2022, 35% of the energy used by Macerich
was from clean or renewable resources, a key component of the
company's seventh appearance on the EPA list. The company's 2022
projects added 1.05 megawatts (MW) of power — a 6.25% increase
— and materially reduced operating expenses. The 2022 additions
included a 750-kilowatt solar project at Queens Center in
New York City and power from
Arizona's 100 MW Salt River
Project (SRP) Central Line Solar plant. Macerich purchases 8% of
the power generated by SRP, reducing Macerich's fossil fuel use in
Arizona by nearly 20%. As of 2022,
the company's total renewable and low-emission energy capacity was
more than 17.5 MW.
The company is also pleased to announce it has increased its
commitment to renewable energy production with two new solar
projects launched in 2023 at the Mall of Victor Valley in Victorville, California, and Green Acres in
Valley Stream, New York, which
will generate a combined 1.8 MW of power upon completion. The
added capacity will boost the company's on-site production by 17%
and reduce its overall carbon emissions by 2.5%.
"We are proud to say that we are on track to reach our important
goal of achieving carbon neutrality by 2030. We view renewable
energy production as a key element of achieving that goal, with
significant returns by both climate and financial measures," said
Olivia Leigh, Executive Vice
President, Portfolio Operations & People, Macerich. "This
acknowledgment by the EPA is one important indicator of our
progress, along with other accolades and certifications such as our
#1 GRESB ranking, position on the CDP A List, and LEED and BREEAM
certifications."
Macerich shares its environmental, sustainability and governance
(ESG) activities and progress through its Corporate Responsibility
Report, Annual Report, Proxy Statement and Form 10-K, in addition
to other internal and external communications. The annual Corporate
Responsibility Report conveys details of Macerich's comprehensive
ESG focus.
About Macerich
Macerich is a fully integrated,
self-managed and self-administered real estate investment trust
(REIT). As a leading owner, operator and developer of high-quality
retail real estate in densely populated and attractive U.S.
markets, Macerich's portfolio is concentrated in California, the Pacific Northwest,
Phoenix/Scottsdale, and the Metro New York to
Washington, D.C. corridor.
Developing and managing properties that serve as community
cornerstones, Macerich currently owns 47 million square feet of
real estate consisting primarily of interests in 44 regional town
centers, many of which contain mixed uses. Macerich is firmly
dedicated to advancing environmental goals, social good and sound
corporate governance. A recognized leader in sustainability,
Macerich has achieved a #1 Global Real Estate Sustainability
Benchmark ("GRESB") ranking for the North American retail sector
for eight consecutive years (2015-2022). For more information,
please visit www.Macerich.com.
Macerich uses, and intends to continue to use, its Investor
Relations website, which can be found at investing.macerich.com, as
a means of disclosing material nonpublic information and for
complying with its disclosure obligations under Regulation FD.
Additional information about Macerich can be found through social
media platforms such as LinkedIn. Reconciliations of non-GAAP
financial measures, including NOI and FFO, to the most directly
comparable GAAP measures are included in the earnings release and
supplemental filed on Form 8-K with the SEC, which are posted on
the Investor Relations website at investing.macerich.com.
MAC-C
SOURCE: Macerich
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SOURCE Macerich