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Solar installation for vocational trade school campus
Universal Technical Institute of California
W. P. Carey funds and manages carport solar installation under power purchase agreement (PPA) for existing tenant, following initial sale-leaseback
- Tenant Description:
- Leading vocational trade school campus offering hands-on training for a variety of careers
- Transaction Type:
- Sale-leaseback* and follow-on carport solar system with tenant PPA
- Location:
- California
- Facility Type:
- Educational facility
- Green Features:
- Carport solar system
In 2025, W. P. Carey entered into an agreement with its existing tenant, Universal Technical Institute of California, Inc (UTI), to install a carport solar system—converting an existing parking area into a source of on-site power. The system became operational in 2026 and is now generating electricity for the facility.
This sustainability improvement builds on W. P. Carey’s initial sale-leaseback of the 178,000-square-foot facility in 2007.
The expected outcome:
- Immediate utility savings—with no upfront capital
- Fixed annual increases that are lower than local utility rate increases
- Alignment with tenant’s sustainability goals
The project is just one example of how W. P. Carey’s Carey Tenant Solutions platform helps tenants reduce utility costs and advance their sustainability goals.
The expected environmental impact of the solar system:
- Solar system size: 740 kW
- Anticipated power generation: 1.2 million kWh/yr
- Anticipated carbon avoided: 246 MTCO2e/yr