WASHINGTON, Nov. 27, 2012 /PRNewswire/ -- Federal Realty Investment Trust (NYSE: FRT), and Distributed Sun LLC (D-SUN), an enterprise level solar development platform providing advisory services, software, business intelligence tools and financing solutions to the Fortune 500, today announced they have entered into an Advisory Services Agreement for Distributed Sun to provide a wide range of services by applying Distributed Sun's solutions on behalf of Federal Realty's California properties.
Acting as Federal Realty's CA Operations preferred solar industry subject matter expert, D-SUN will conduct full site due diligence analysis, assess financial viability, and support EPC selection for a series of properties in California. Looking forward, the companies will work closely to develop customized project decision-making criteria based on Distributed Sun's proprietary analytics, identifying bankable on-site photovoltaic solar energy projects with emphasis on their CA portfolio.
"We believe Fortune 500 companies need solar advisory services, and are very excited to engage with Federal Realty. We applaud their leadership in solar. This transaction represents a significant validation of our enterprise approach to accelerate the deployment of distributed solar energy within the commercial-industrial solar segment," says Chase Weir, CEO of D-SUN.
"Federal Realty selected Distributed Sun to help us develop a solar strategy for our California properties", said Phil Austin, Director of Finance. "They are a highly credible 3rd party with proven development, finance, construction and ownership expertise. D-SUN is helping Federal Realty make sense of a highly fragmented market so we can make better business decisions. We weren't going to do it on our own, or as fast as we wanted to otherwise."
Added Jeff Berkes, Federal Realty's President, West Coast, "The bottom line is Distributed Sun gives us better tools, to make better decisions, which leads to better business which delivers more value to our shareholders."