Case Study
MD warehouses power community
Deployment of on-site solar systems across two Essex, MD warehouses.
Link Logistics, owner and operator of the largest U.S.-only portfolio of industrial real estate, engaged Wunder to deploy on-site solar systems across two Essex, MD warehouses.
The solar systems —in aggregate, 555 kW— came online in August 2023 and are anticipated to generate 706,040 kilowatt hours of power in their first year of operation alone, offsetting more than 1,087,392 lbs of CO2 emissions.
Like many REITs, Link was focused on unlocking additional property NOI and meeting ESG targets without the complications that come with directly-owning renewable energy assets. Wunder helped them select a no-CapEx solar structure that delivers value by leveraging a simple roof lease. Under this structure, roof lease payments can be supported by energy sale revenues, as well as value Wunder secures by selling state-based renewable energy credits (RECs) and the federal investment tax credits (ITC) associated with a project.
To maximize value for Link, Wunder engineered two rooftop community solar systems. These systems would go on to be two of the very first to come online in Maryland’s Community Solar pilot program, which allows energy to be sold to on-site tenants, as well as other businesses and residences throughout the utility jurisdiction.
Wunder worked with Link to craft a construction plan tailored to meet their exacting specifications. A robust competitive RFP process was conducted to drive down installation costs and maximize value capture for Link, Tier-1 hardware (panels and inverters) was delivered at night to avoid any tenant disruption, and stakeholders were kept abreast of installation progress throughout the process.
Ultimately, the on-site installation of the systems took a matter of weeks, all of the relevant AHJs inspected and signed off on the systems before energization, and the systems have performed as expected.
About Link Logistics
Link Logistics is a leading operator of last-mile logistics real estate. As of June 30, 2024, Link Logistics serves approximately 9,000 customers and owns, has interests in, manages or has under development logistics facilities that will represent a total of 526 million square feet across key U.S. distribution markets. Established by Blackstone in 2019, Link Logistics has the scale, footprint and proprietary insights, as well as a focus on sustainability, to drive value for our customers and stakeholders.
