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Lend Lease and SolarCity to Install Solar to Help Provide Power to More Than 2,000 Homes

Hickam Communities, owned and managed by property solutions provider Lend Lease, is the preferred developer for the Air Force to develop, design, construct, renovate and provide asset and property management for homes at Hickam Air Force Base through 2057. SolarCity will initially install solar on approximately 600 rooftops at Hickam Communities, with the solar electricity generated helping provide power to more than 2,000 homes currently on base. The project will promote a cleaner environment in Hawai'i and also help the Air Force meet Department of Defense goals to have 25 percent of its energy requirements met by renewable energy by 2025. Through a 20-year power purchase agreement, SolarCity will engineer, install and maintain the solar systems, which will be interconnected by Hawaiian Electric Company.

"Entering into this power purchase agreement with support from Air Force leadership has given us an opportunity to give back to our families today and into the future," said Jerry Schmitz, project director of Hickam Communities. "In addition to reducing emissions, money saved can go back into maintaining our community and providing services and programs for our families."

Hickam Communities will be the second solar-powered community on an Air Force Base in the U.S. In October 2009, Lend Lease and SolarCity announced the first solar-powered community on an Air Force Base in the U.S., and the nation's largest distributed, community-wide solar power project at Soaring Heights at Davis-Monthan Air Force Base in Arizona.

"Hickam Communities and Lend Lease's use of renewable, solar energy will have a positive impact on the local environment and island economy," said SolarCity CEO Lyndon Rive. "This project will help reduce the expense and pollution created by imported oil."

Homes were selected for solar installations based on specific location and suitability for solar panels.

About Lend Lease

Lend Lease is a leading international property and infrastructure group. Listed on the Australian Stock Exchange, Lend Lease has a significant presence in the Americas, Australia, Asia and Europe.

In the US, Lend Lease's public partnership business is the nation's leader in public/private community development. With a focus on creating sustainable value, Lend Lease creates communities that regenerate our environment, enrich people's lives and foster economic growth. Lend Lease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies. With over 40,000 residential units, 192 apartments and 8,500 hotel rooms in its portfolio, Lend Lease will finance, develop, build, renovate and operate these sites for at least 50 years.

About SolarCity

SolarCity-a national leader in solar power engineering, financing, installation, monitoring and energy efficiency services-was founded with the mission to help millions of homeowners and businesses adopt clean power, protect themselves from rising gas and electricity costs and protect their environment from polluting power sources. The company's SolarLease and Power Purchase Agreement (SolarPPA ) options can make it possible for homeowners and businesses to switch to clean, solar power for less money than they currently pay for electricity. SolarCity's 24 operations centers serve Arizona, California, Colorado, Hawai'i, Maryland, Massachusetts, New Jersey, New York, Oregon, Pennsylvania, Texas and Washington, D.C. Additional information about the company is available on the Web at www.solarcity.com.

SolarCity
Nina Oestlien, 650-963-5670
noestlien@solarcity.com
or
Lend Lease
Ann Wharton, 808-375-6489
ann.wharton@lendlease.com