Broad Street, Centennial and AccelDev Announce the Completion of Rooftop Solar Project in Maryland

Rhea-AI Summary

Broad Street Realty (BRST) has completed a new 1 MW(dc) rooftop solar installation at Hollinswood Shopping Center in Baltimore County, Maryland, in partnership with Centennial and Madison Energy Infrastructure. The project, featuring over 1,500 solar panels across a 100,000 square foot roof, follows their recent 2.4 MW(dc) installation at Cromwell Shopping Center. The installation will benefit approximately 1,000 homes in the area through reduced electricity costs.

The project was developed by Centennial, constructed by Halo, financed by AccelDev, and will be owned and operated by Madison Energy Infrastructure. This initiative aligns with Broad Street's ESG commitments and Maryland's goals to increase local power generation, particularly significant as the state currently imports nearly 40% of its electricity.

Positive

• Project will reduce electricity costs for approximately 1,000 homes in the area
• Second successful solar project completion, following a larger 2.4 MW installation at Cromwell Shopping Center
• Potential for increased net operating income through solar installation
• Strategic partnerships with established companies for development, construction, and operation

Negative

• None.

BALTIMORE, May 5, 2025 /PRNewswire/ -- Broad Street Realty, in partnership with Centennial and Madison Energy Infrastructure, has announced the completion of a new 1 MW(dc) rooftop solar installation at Hollinswood Shopping Center in Baltimore County. The project follows the 2.4 MW(dc) rooftop solar project that the companies recently completed at Cromwell Shopping Center, a 233,000 square foot shopping center anchored by an AutoZone mega hub and a Roses.

The project is designed to reduce the cost of electricity for approximately 1,000 homes in the area, while increasing power production in the State of Maryland. The project uses over 1,500 solar panels with a ballasted racking system across Hollinswood Shopping Center's 100,000 square foot roof.

Centennial developed the project, with construction performed by Halo, a solar engineering contractor. The project received financing from AccelDev and will be owned and operated by Madison Energy Infrastructure. Venable served as transactional counsel to Centennial.

"We're thrilled to collaborate again with Centennial and MEI to bring solar energy to Hollinswood Shopping Center," said Michael Jacoby, Chairman and CEO of Broad Street Realty. "These recent solar projects align with our company's commitment to reducing our carbon footprint and implementing ESG-focused initiatives across our properties. Together, we're contributing to Maryland's goals of supporting our local communities with reduced electricity costs for families, while increasing power generation in the state through clean energy."

David John Frenkil, Founder and Managing Principal of Centennial: "The rooftop solar project at Hollinswood Shopping Center is the most recent example of how owners of commercial real estate can grow their net operating income while contributing to efforts to lower electricity costs for households and businesses, while increasing energy generation in Maryland – a state that currently imports nearly 40% of the electricity that it consumes."

Chip Brubaker, President of AccelDev: "The Hollinswood project shows how strategic financing and strong partnerships can provide meaningful benefits for the customers and the communities they serve. AccelDev is proud to support Centennial and Broadstreet in bringing this vision to life once again, and to work with Madison to ensure long-term reliability and lasting value. This project builds on a successful track record of collaboration, reinforcing our commitment to empowering the DG developer ecosystem."

The Hollinswood Shopping Center project reinforces Broad Street's dedication to deploying innovative, sustainable solutions across its portfolio.

About Broad Street Realty, Inc.
Broad Street Realty, Inc. (OTCQX: BRST) is a fully integrated and self-managed real estate company that owns, operates, develops, and redevelops primarily essential grocery-anchored shopping centers and mixed-use properties located in densely populated technology employment hubs and higher education centers within the Mid-Atlantic, Southeast and Colorado markets. Broad Street is also a market-leading commercial real estate services firm that delivers cost-effective solutions for office, industrial and retail clients.

Learn more at www.BroadStreetRealty.com and on LinkedIn.

About Centennial
Founded in 2014, Centennial is an energy development company focused on delivering power projects at commercial real estate and industrial properties. Centennial's portfolio of operating and contracted assets includes both on-site and front of the meter energy assets. Customers include Fortune 500 companies, publicly traded REITs, and other commercial and industrial property owners.

Learn more at www.CentennialGen.com and on LinkedIn.

About AccelDev
AccelDev is a premier renewable energy investment firm specializing in flexible capital solutions for innovative and under-served developers. Accel-Dev's goal is to partner and support entrepreneurs in the renewable space who see the long-term value in their projects and platforms. The venture is backed by Madison Energy Infrastructure.

Learn more at acceldevteam.com and madisonei.com.

Media Contact: media@centennialgen.com

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SOURCE Centennial

FAQ

What is the capacity of BRST's new solar installation at Hollinswood Shopping Center?

The new solar installation at Hollinswood Shopping Center has a capacity of 1 MW(dc) and consists of over 1,500 solar panels on a 100,000 square foot roof.

How many homes will benefit from BRST's Hollinswood Shopping Center solar project?

The solar project is designed to reduce electricity costs for approximately 1,000 homes in the Baltimore County area.

Who are the key partners in BRST's Hollinswood solar project?

The project involves Broad Street Realty, Centennial (developer), Halo (construction), AccelDev (financing), and Madison Energy Infrastructure (owner/operator).

What was BRST's previous solar project before Hollinswood Shopping Center?

BRST previously completed a 2.4 MW(dc) rooftop solar project at Cromwell Shopping Center, a 233,000 square foot shopping center anchored by AutoZone and Roses.

How does the Hollinswood solar project align with Maryland's energy needs?

The project helps address Maryland's energy dependency, as the state currently imports nearly 40% of its electricity consumption, by increasing local clean energy generation.