Prime Group Holdings LLC and Wunder have launched the first phase of a national solar deployment program across Prime Group’s self-storage portfolio, with the initial systems completing interconnection and beginning to deliver power.
The initiative is designed to convert underutilized rooftop space at Prime Storage properties into clean energy infrastructure while supporting the company’s sustainability and asset-performance objectives.
Through the partnership, Prime Group is deploying solar energy systems that it owns across its national portfolio, while Wunder will provide ongoing management of the systems. Initial projects are located in Rhode Island, Connecticut, California and Maryland.
The program is intended to identify opportunities that can enhance property performance, generate incremental revenue, reduce operating costs and provide benefits to surrounding communities. By utilizing existing rooftops, the projects also allow for additional renewable energy generation without requiring new land development.
Several of the projects are participating in state-based Community Solar programs, which can enable electricity generated by Prime Group’s rooftop systems to be delivered to local residents at rates below utility prices. Additional savings may be available to low- and moderate-income households.
“We believe on-site energy infrastructure has emerged as a compelling value creation strategy,” said Robert J. Moser, Founder, Principal, and Chief Executive Officer of Prime Group. “As a longtime innovative owner and operator in the evolving self-storage sector, we are focused on initiatives that we believe can enhance asset performance and generate incremental income over time. This strategic partnership with Wunder supports the delivery of clean power to the communities we serve, and supports our long-term portfolio strategy and broader strategic objectives.”
The deployment strategy is being guided by local utility programs and regulations, state incentives and property-specific considerations. Each participating property is evaluated individually to determine an appropriate solar solution.
Prime Group has more than 330 assets nationwide, with more than 100 solar projects currently under development across nine states. Collectively, those projects represent more than 38 megawatts of planned solar development.
“We are honored to work with Prime Group’s forward-thinking team, who share a commitment to sustainability and operational excellence,” said Dave Riess, Chief Executive Officer of Wunder. “For self-storage operators, solar can present an opportunity to accelerate clean energy adoption while potentially reducing operating expenses. We look forward to leveraging our expertise in energy infrastructure to build a strong partnership with Prime Group and support additional long-term value creation across their portfolio for years to come.”
As additional systems come online, Prime Group expects the program to reduce carbon emissions, expand access to renewable energy and demonstrate how self-storage properties can function as distributed energy assets while supporting broader community sustainability efforts.