ProLogis Announces Second U.S. Roof Lease for Solar Panel Installation

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- Company Will Lease Roof Space to Portland General Electric for Photovoltaic System Totaling 1.1 MW -

PORTLAND, Ore., Oct. 14 /PRNewswire-FirstCall/ -- ProLogis (NYSE: PLD), the world's largest owner, manager and developer of distribution facilities, announced today it has agreed to lease roof space to Portland General Electric (PGE) (NYSE: POR), a vertically-integrated electric utility that serves approximately 813,000 residential, commercial and industrial customers in Oregon, for the construction of multiple photovoltaic (PV) systems in Portland totaling 1.1 megawatts (MW).

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"We are thrilled to combine efforts with PGE to begin our second large-scale, rooftop solar installation in the United States," said Jack Rizzo, ProLogis' managing director of global construction. "ProLogis is committed to implementing enough renewable energy systems to obtain a combined generation capacity of over 25 million kilowatt hours (kWh) per year by 2010; this project will certainly help us achieve that goal."

The solar power system will be installed on three ProLogis distribution centers in the Portland area, the largest of which will be a 534 kilowatt (kW) installation at a 246,000-square-foot distribution facility located at ProLogis Park PDX in northeast Portland. The remaining 574 kW will be installed on two separate ProLogis distribution centers at ProLogis Park PDX Corporate Center East, located nearby. Construction is expected to be completed in December 2008.

This project will be the largest PV installation in the Pacific Northwest. Each installation will consist of building-integrated, thin-film solar material, which is lighter and requires less structural support than traditional crystalline solar panels. Solar Integrated Technologies has been selected to integrate and install the system; the company also has worked with ProLogis on solar energy systems in both France and Spain.

US Bank and PGE have formed SunWay 2, LLC to own and operate the system and to secure state and federal solar tax credits to help finance the project. Energy Trust of Oregon, Inc. (ETO), a nonprofit organization dedicated to promoting energy efficiency and clean renewable energy, is providing $1 million in incentives to help fund the project. All generated power will feed directly into PGE's existing electrical grid to serve its customers.

ProLogis now has a total of approximately 6 MW of PV projects installed or under development worldwide. In March of this year, the company announced a rooftop lease of more than 600,000 square feet to power a 2.4 MW installation with Southern California Edison. The announcement marked the first deal of its kind in the United States and is a part of the utility's five-year, 250-MW solar project. In Europe, ProLogis has solar installations in France, Spain and Germany. In addition, the company has completed three wind turbine installations, all in Japan, for a total of 68 kilowatts (kW).

ProLogis Park PDX, Building 4, the largest installation site, is located near the intersection of Interstate 84 and Northeast 148th Avenue, approximately five miles southwest of Portland International Airport. The facility was built according to standards set in place by the United States Green Building Council (USGBC) for LEED certification, the national standard for environmentally responsible construction, and is expected to achieve LEED Gold status. ProLogis is the largest provider of distribution space in Portland with 3.7 million square feet owned, managed or under development.

About ProLogis

ProLogis is the world's largest owner, manager and developer of distribution facilities, with operations in 132 markets across North America, Europe and Asia. The company has $40.4 billion of assets owned, managed and under development, comprising 542.3 million square feet (50.4 million square meters) in 2,884 properties as of June 30, 2008. ProLogis' customers include manufacturers, retailers, transportation companies, third-party logistics providers and other enterprises with large-scale distribution needs. Headquartered in Denver, Colorado, ProLogis employs over 1,500 people worldwide. For additional information about the company, go to http://www.prologis.com.

SOURCE ProLogis

Released October 14, 2008