Oct. 14, 2008

Portland, Ore. — Portland General Electric (NYSE: POR) and its partners today rolled out the largest solar project in the Pacific Northwest, which is expected to begin producing up to 1.1 megawatts of electricity for PGE customers by December.

The project, using “thin-film” solar panels, is being installed on the rooftops of three ProLogis distribution warehouses in northeast Portland.  The solar panels will cover more than 328,000 square feet.

“To meet Oregon’s future energy needs, we’re going to need every tool in our tool box,” said Peggy Fowler, CEO and president of PGE.  “With this project, we will be putting solar power directly onto the grid, adding to the renewable energy PGE already is delivering to our customers.”

PGE already supports customer-owned solar power projects through net-metering arrangements, which allow customers to generate their own solar power and tap into the PGE grid as needed.  In addition, part of PGE’s contribution comes from funds — provided by the company’s Clean Wind renewable power customers — that support renewable power demonstration projects and development of renewable power resources.

Fowler thanked U.S. Bank, ProLogis, Energy Trust of Oregon, United Fund Advisors and Solar Integrated Technologies for working with PGE to make the project possible.

As the world’s largest owner, manager and developer of distribution facilities, ProLogis (NYSE: PLD), also owns the most roof space in the Portland region — more than 3.7 million square feet.  “We hope this installation will help enhance awareness and motivation to bring other similar projects online throughout Oregon,” said Jack Rizzo, managing director of global construction for ProLogis.  To date, ProLogis has approximately six megawatts of solar panels installed or under development on rooftops in Southern California, France, Germany and Spain.

U.S. 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. The financing package was arranged by United Fund Advisors. In August, PGE and U.S. Bank formed a similar joint venture to finance the nation’s first solar highway project for the Oregon Department of Transportation.

“Our hope is to work more with both PGE and ProLogis in the future, and build new partnerships through UFA that complete value-added renewable energy projects,” said Rob Wasserman, senior vice president of U.S. Bancorp Community Development Corporation, a subsidiary of U.S. Bank. “We value UFA, PGE and ProLogis as long-term clients and partners in the renewable energy industry.”

Energy Trust of Oregon, a nonprofit organization dedicated to changing how Oregonians use energy by promoting energy efficiency and clean renewable energy, is providing about $1 million in incentives for the project. “This project sets a new standard for solar installations in the Portland area because of its size and its use of thin film technology,” said Peter West, director of renewable energy at Energy Trust. “We are thrilled to be a part of this project and hope to see more like it in the coming months and years.”

Thin-film photovoltaic solar panels are ideal for rooftop installations, as they are lighter, require less structural support and have a higher wind rating than traditional glass laminated and aluminum framed solar panels.  Solar Integrated Technologies, Inc.,  has been selected to integrate and install the system; the company also has worked with ProLogis on solar energy systems in France and Spain. “The structure and partnership approach that have been adopted for this initial solar roofing project provide a model for future additional projects,” said Randall MacEwen, president and CEO of Solar Integrated.