Kimco Realty Doubles Solar Installations as a Part of Expanding ESG Commitment

Kimco Realty Corp. (NYSE:KIM), one of North America’s largest publicly traded owners and operators of open-air, grocery-anchored shopping centers and mixed-use assets, today announced that it has initiated five new solar projects. Four of the projects are installed at Kimco properties in the New York metropolitan region, including the company’s new headquarters in Jericho, Long Island as well as Greenridge Plaza, Forest Avenue Shopping Center, and Richmond Shopping Center, all on Staten Island. The fifth is in Massachusetts at Festival at Hyannis Shopping Center. The projects will result in 3.7 MW of solar generating an estimated 4.64 million kWh annually, which is enough to power more than 600 homes per year.

Rooftop solar at Jericho Atrium - Kimco’s Jericho, New York headquarters (Photo: Business Wire)

The solar project at Kimco’s Jericho Atrium headquarters, on the site of its Jericho Commons Shopping Center, is part of Long Island’s Commercial Solar Feed-in Tariff program, and will supply clean energy to the local utility, PSEG Long Island. The Staten Island projects are part of the New York community solar program. These solar arrays will provide energy to community solar subscribers in the ConEdison utility area, giving residents the opportunity to purchase clean power.

“These new installations will double the size of rooftop solar within our portfolio while adding clean energy into the local power mix in the communities these properties serve,” said Conor Flynn, CEO of Kimco Realty. “We pioneered retail property rooftop solar with our first installation in 2009, and we continue to explore ways to responsibly expand this program that will benefit our shareholders and the communities in which we operate.”

All five projects were facilitated through Kimco’s partnership with Black Bear Energy and were developed beginning in 2020 by Green Street Power Partners.

Kimco’s solar program is just one of the ways it has worked to minimize the company’s environmental impact. As a result of Kimco’s continued efforts in this area, along with its leading-edge social impact and governance initiatives, the company was recently named to the Dow Jones Sustainability World Index, where it is the only North American retail real estate owner listed. The DJSI World Index is comprised of corporate leaders in global sustainability, with companies listed on the Index representing the top 10 percent of the largest 2,500 companies in the S&P Global Broad Market Index based on long-term economic and environmental, social and governance (ESG) factors. Kimco has been the sole retail real estate owner listed on the DJSI North America Index for the last six years, and the company also is a constituent of the FTSE4Good Index Series, designed to measure the performance of companies demonstrating strong ESG practices.

About Kimco

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in Jericho, N.Y., that is one of North America’s largest publicly traded owners and operators of open-air shopping centers. As of September 30, 2020, the company owned interests in 400 U.S. shopping centers and mixed-use assets comprising 70 million square feet of leasable space primarily concentrated in the top major metropolitan markets. Publicly traded on the NYSE since 1991 and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development, and management for more than 60 years. For further information, please visit www.kimcorealty.com, the company’s blog at kimcorealty.com/blog, or follow Kimco on Twitter at www.twitter.com/kimcorealty.

The company announces material information to its investors using the company’s investor relations website (investors.kimcorealty.com), SEC filings, press releases, public conference calls, and webcasts. The company also uses social media to communicate with its investors and the public, and the information the company posts on social media may be deemed material information. Therefore, the company encourages investors, the media, and others interested in the company to review the information that it posts on the company’s social media channels, including Facebook (www.facebook.com/kimcorealty), Twitter (www.twitter.com/kimcorealty), YouTube (www.youtube.com/kimcorealty) and LinkedIn (www.linkedin.com/company/kimco-realty-corporation). The list of social media channels that the company uses may be updated on its investor relations website from time to time.

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