In a significant move towards sustainable retail, Broad Street Realty has unveiled a cutting-edge 2.4 MW(dc) rooftop solar project at its Cromwell Shopping Center in Glen Burnie, Maryland. This innovative installation marks a major step in the company’s commitment to reducing its carbon footprint and advancing its environmental, social, and governance (ESG) initiatives.
The solar array, consisting of 4,380 panels mounted on a ballasted racking system, now crowns the 233,000 square foot shopping center[1]. Anchored by an AutoZone mega hub and a Roses store, this retail space has been transformed into a powerhouse of clean energy. The installation’s output is impressive, generating enough electricity to power over 1,000 homes in Baltimore Gas and Electric’s (BG&E) service territory.
This ambitious project is the result of a strategic partnership among several key players in the renewable energy and real estate sectors. Broad Street Realty serves as the property owner and project initiator, while Centennial Generating Company is the project developer. Halo, a solar engineering contractor, is responsible for the construction of the solar installation, with AccelDev providing development capital financing. Finally, Madison Energy Infrastructure will take on the role of future owner and operator of the solar installation.
Michael Jacoby, Chairman and CEO of Broad Street Realty, emphasized the project’s significance: “The net-zero transition requires deep collaboration across value chains. We are excited to be partnering with Centennial and MEI to decarbonize the Cromwell Shopping Center, advancing our goal to reduce emissions throughout Broad Street’s portfolio supporting our ESG initiatives”.
David John Frenkil, Founder and Managing Principal of Centennial, highlighted the project’s broader implications: “The solar project at Cromwell Shopping Center demonstrates how commercial real estate owners can implement solar projects with a clear and measurable benefit to their bottom line while achieving sustainability targets”.
Richard Walsh, CEO of Madison Energy Infrastructure, pointed out the potential for wider adoption: “State incentive programs, when utilized thoughtfully by landlords like Broad Street and executed by developers like Centennial, can accelerate both community benefits and the national clean energy transition”.
This solar installation at the Cromwell Shopping Center is just one example of Broad Street’s commitment to decarbonize its portfolio using advanced technologies. As a fully integrated real estate company specializing in grocery-anchored shopping centers and mixed-use properties, Broad Street Realty is well-positioned to lead the charge in sustainable retail development. The success of this project could serve as a blueprint for other retail centers across the country, demonstrating how commercial properties can contribute to clean energy production while potentially improving their financial performance. As the real estate sector continues to evolve, initiatives like this are likely to become increasingly common, setting new standards for sustainability in commercial spaces.
