Terreno Realty Corporation Announces Rooftop Solar Agreements in Washington, D.C.

Rhea-AI Summary

Terreno Realty Corporation (NYSE: TRNO) has announced agreements to establish rooftop solar projects in Washington, D.C., with a total power capacity of 8.4 MW, enough to supply over 700 homes. These projects align with the company's sustainability goal of implementing solar solutions on at least 5% of their rooftop areas by the end of 2024. The projects are anticipated to be operational in 2023, supporting Terreno’s commitment to renewable energy.

Positive

• Agreements for rooftop solar projects enhance sustainability goals.
• Projects have a significant capacity of 8.4 MW, powering over 700 homes.
• Alignment with target of solar installations on 5% of rooftops by 2024.

Negative

• None.

BELLEVUE, Wash.--(BUSINESS WIRE)-- Terreno Realty Corporation (NYSE: TRNO), an acquirer, owner, and operator of industrial real estate in six major coastal U.S. markets, announced today it has entered agreements to host rooftop solar projects in Washington, D.C., with an aggregate power generating capacity of 8.4 MW —equivalent capacity to power over 700 homes.

The Company expects the projects to be operational in 2023 as part of Terreno Realty Corporation’s sustainability goal of rooftop solar on at least 5% of total rooftop area by year-end 2024.

Terreno Realty Corporation acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles; Northern New Jersey/New York City; San Francisco Bay Area; Seattle; Miami; and Washington, D.C.

Additional information about Terreno Realty Corporation is available on the company’s web site at www.terreno.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. We caution investors that forward-looking statements are based on management’s beliefs and on assumptions made by, and information currently available to, management. When used, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “result,” “should,” “will,” “seek,” “target,” “see,” “likely,” “position,” “opportunity,” “outlook,” “potential,” “enthusiastic,” “future” and similar expressions which do not relate solely to historical matters are intended to identify forward-looking statements. These statements are subject to risks, uncertainties, and assumptions and are not guarantees of future performance, which may be affected by known and unknown risks, trends, uncertainties, and factors that are beyond our control, including risks related to our ability to meet our estimated forecasts related to stabilized cap rates, the impact of the COVID-19 pandemic on our business, our tenants and the national and local economies, and those risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2021 and our other public filings. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, or projected. We expressly disclaim any responsibility to update our forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Accordingly, investors should use caution in relying on past forward-looking statements, which are based on results and trends at the time they are made, to anticipate future results or trends.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220330005790/en/

Jaime Cannon

415-655-4580

Source: Terreno Realty Corporation

FAQ

What agreements did Terreno Realty Corporation announce on rooftop solar projects?

Terreno Realty Corporation announced agreements to host rooftop solar projects in Washington, D.C., with an aggregate capacity of 8.4 MW.

How many homes can the rooftop solar projects power?

The rooftop solar projects can power over 700 homes.

When is Terreno Realty Corporation expecting the solar projects to be operational?

The solar projects are expected to be operational in 2023.

What is Terreno's sustainability goal for rooftop solar installations?

Terreno Realty Corporation aims to have rooftop solar installations on at least 5% of their total rooftop area by year-end 2024.