STAG Industrial Announces Completion of Three New Rooftop Community Solar Projects In New Jersey

STAG Industrial, Inc. (NYSE: STAG) has announced the completion of three community solar projects on its rooftops in New Jersey, totaling 2.7 megawatts (MW) of installed capacity. These projects are part of New Jersey's Community Solar Pilot Program, providing low-cost renewable energy to local residents, with at least 50% of the energy allocated to low- and moderate-income households receiving discounted electricity. Developed by Dimension Energy and facilitated by Black Bear Energy, the systems will generate over 3.4 million kilowatt-hours of electricity annually, equivalent to powering nearly 500 homes.

Brian LaMont, Senior Vice President and Head of Development & ESG at STAG, stated that hosting solar projects aligns with the company's strategy to leverage its portfolio for renewable energy initiatives. He emphasized the positive impact on the local grid and the financial benefits for residents through reduced electric bills.

Drew Torbin, President of Black Bear Energy, highlighted the success of the partnership in navigating the challenges to bring these projects online, praising New Jersey's program for prioritizing rooftops and brownfields while benefiting low and moderate-income subscribers.

Bryan Bentrott, Vice President of Origination at Dimension Renewable Energy, expressed pride in energizing the facilities with STAG, noting the shared commitment to responsible, community-driven development and expanding solar energy access to New Jersey residents.

With these additions, STAG now hosts over 30 MW of solar nationally across 16 properties in states including Massachusetts, Illinois, Maryland, Minnesota, New Jersey, and Connecticut. Notable projects include the largest rooftop community solar installation in the country on its Hampstead, MD property (9.18 MW) and the first rooftop community solar project in Connecticut. These achievements have earned STAG a place on Black Bear Energy's Top 5 Real Estate Solar Leaderboards in the "Industrial" category.

STAG Industrial, Inc. is a real estate investment trust focused on acquiring, owning, and operating industrial properties throughout the United States. As of September 30, 2023, the company's portfolio consists of 568 buildings in 41 states, totaling approximately 112.0 million rentable square feet. For more information, visit www.stagindustrial.com.

Black Bear Energy, a Legence Company, is a technology-enabled commercial buyer's representative specializing in onsite renewable energy and cleantech services. Over the past five years, Black Bear has assisted clients in bidding out over 1,000 clean technology projects across more than 20 states through its data-driven process. For more information, visit www.blackbearenergy.com.

Dimension Renewable Energy is a leading developer, owner, and operator of turnkey community solar solutions, having deployed more than 250 megawatts and $400 million into clean energy assets since its founding in 2018. The company plans to invest an additional $2.5 billion over the next five years, with more than 2.2 gigawatts of projects currently under development across 11 states. Dimension fosters long-term partnerships with each community it serves, investing in local green job creation through workforce training programs and STEM education. For additional information, visit www.dimension-energy.com.

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