Bloomberg News

ProLogis Gets $1.4 Billion Guarantee for Rooftop Solar Project

September 30, 2011

Sept. 30 (Bloomberg) -- ProLogis Inc., the world’s biggest warehouse owner, received a partial U.S. Energy Department guarantee backing a $1.4 billion loan to put solar panels on about 750 buildings.

Project Amp, when complete, will have total capacity of as much as 752 megawatts from rooftop photovoltaic panels on buildings owned by San Francisco-based ProLogis, the agency said today in an e-mailed statement.

Bank of America Corp. and NRG Energy Inc. are both investing in the project.

Lawmakers in Washington are scrutinizing the Energy Department’s program in the wake of Solyndra LLC’s Sept. 6 bankruptcy filing. The Fremont, California-based solar-panel maker received a $535 million loan guarantee.

--Editors: Will Wade, Jasmina Kelemen

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net


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