West Springfield, MA [May 29, 2025] - Slate Grocery REIT (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, engaged Wunder, a category-defining provider of commercial energy solutions, to deploy an on-site solar system at Riverdale Shops, a 280,000 square foot retail center located in West Springfield, Massachusetts. The 401-kilowatt rooftop solar system supports the REIT’s sustainability objectives without requiring any out-of-pocket expense. The solar system came online in the second quarter of 2025 and is expected to generate 455,728 kilowatt hours of power in its first year alone - offsetting more than 443,509 pounds of CO2 emissions.
The rooftop solar project is generating revenue by leveraging the state’s popular Community Solar program. Under the terms of the program, power generated by the solar system can be sold at a discount to the property’s tenants, as well as other businesses and residences throughout the utility jurisdiction. The solar project is representative of a broader national partnership between the REIT and Wunder, with additional projects actively under development and expected to come online in the coming months and years.
“Investing in this on-site solar system at Riverdale Shops reflects not only our commitment to operating sustainable properties, but also our unwavering focus on fundamental value, which underpins all our investment and asset management decisions at Slate Grocery REIT,” said Blair Welch, Chief Executive Officer of Slate Grocery REIT. “By generating clean, renewable solar energy on-site, we are improving the operational efficiency of this property, minimizing emissions, and creating a stable new revenue stream – all of which we believe enhances the underlying long-term value of this center.”
“Collaborating with Slate Grocery REIT on this solar project was a seamless process,” said Dave Riess, CEO of Wunder. “By integrating solar into retail assets like Riverdale, organizations like Slate Grocery REIT can deliver energy bill savings to their tenants and the surrounding community, unlock latent revenue from their property, and make meaningful progress toward making their properties more sustainable and resilient. We’re proud to have played a role in advancing Slate Grocery REIT’s forward-thinking vision for Riverdale Shops and excited about continuing to scale our partnership.”
About Wunder
Wunder is a leading provider of enterprise-grade energy solutions for the commercial real estate industry. Some of the nation’s largest and most sophisticated real estate firms and Fortune 500s rely upon Wunder to develop and programmatically execute strategic renewable energy initiatives across their real estate holdings. Wunder’s mission is to accelerate America’s clean energy future by tackling the largest opportunity to drive down U.S. carbon emissions - the commercial and industrial sectors. To learn more, visit www.WunderPower.com.
About Slate Grocery REIT (TSX: SGR.U / SGR.UN)
Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates approximately U.S. $2.4 billion of critical real estate infrastructure across major U.S. metro markets that communities rely upon for their daily needs. The REIT’s resilient grocery- anchored portfolio and strong credit tenants are expected to provide unitholders with durable cash flows and the potential for capital appreciation over the longer term. Visit slategroceryreit.com to learn more about the REIT.
About Slate Asset Management
Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus, and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.