GREEN INITIATIVE
Renewable Energy Production
The generation of electricity from renewable sources within each of our properties is a key initiative in our helping to achieve a net zero carbon outcome for all and is realised via the installation of building roof-top and parking canopy mounted photovoltaic panels with energy then sold back to tenants at discounted rates.
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:January 2023 |
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Topic Area: |
ESG |
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Service Line: |
Asset Management |
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ESG Inititative: |
Renewable Energy Production |
Key goals
Rooftop and parking canopy mounted PV panels
Low carbon, discounted electricity for tenants
Storage battery capacity
Energy performance certificates of B or above
EV charging infrastructure
Tenant supply agreements & take-off agreements
Reduction in CO2 emissions
Typical Situation
Under a triple net lease, maintenance and the use of roof areas are under the control of the tenant, rather than the landlord. Therefore, rooftop solar installations on our properties need to be approached from a collaborative perspective in order to increase the coverage of solar installation across our portfolio. Installations are typically funded by us, with the energy sold back to tenants at discounted rates.
Therefore, rooftop solar installations on our properties need to be approached from a collaborative perspective in order to increase the coverage of solar installation across our portfolio. Installations are typically funded by us, with the energy sold back to tenants at discounted rates.
Planned Actions
Working in partnership with our tenants and specialist energy consultants, we intend to progressively build out roof-top mounted and parking canopy roof mounted, photovoltaic (PV) panels across our portfolio to convert solar energy into electricity, with back-to-back supply arrangements with tenants via local distribution networks (LDN’s) and excess power generated fed back to either high-capacity storage batteries (or the grid).
Additional electric vehicle (EV) charging points and e-bike charging spaces shall also where possible, be installed to encourage more low carbon travel to our properties by both the employees of our tenants and our tenant’s customers.
Where possible, PV canopies on parking lots to be installed to create additional solar energy and furthermore to provide shade for parked cars and thus reduce need for immediate air-conditioning upon departure.
Expected Benefits
Generation of clean green electricity has clear benefits to the environment while also reducing operational costs for tenants who can purchase such electricity at a discount to market rates, while also providing an additional income stream to our partners.
Recouping of our initial investment into the installation of such PV systems is expected to be achieved in an estimated 10 years while during this period, the occupier is benefiting from lower energy costs, as they are purchase the electricity at a discount compared to market rates.
Target Green Initiatives
Green Lease Clauses
Green Initative
Energy Conservation
Green Initative
Waste Recycling
Green Initative
Case studies presented herein are for illustrative purposes only, and are select examples in order to illustrate how our ESG policies can be applied in practicality as it relates to our future portfolio investments. Nothing contained therein should be assumed to be an undertaking or commitment that all investments we make are suitable candidates for such ESG initiatives or that such improvements are even achievable in different circumstances. Certain information has been sourced from third parties and may be incorrect or incomplete.