Project Solar: On-site renewable energy generation project

Belgium

Project solar c&a boom lowres

On- and off-site renewable energy generation is an integral part of our approach to redeveloping buildings. As part of this, we launched Project Solar together with our shareholder COFRA Holding in 2020. Through the installation of solar PV panels on the roofs of the buildings, Project Solar provides clean, on-site energy to the tenants of the retail park assets that we manage for COFRA in Belgium.

Current status

While 2020 saw the launch of the project and a fair amount of preparation, during 2021 we managed to install 23 PV installations on the roofs of various retail park assets in Belgium. The total installed capacity at the end of February 2022 was 4.2 MWp, with the largest single installation on the roof of the C&A Distribution Centre in Boom, near Antwerp in Belgium, with a capacity of 1.1 MWp.

Mission 2040

An important contribution to our emissions reduction roadmap in the context of Mission 2040 is the provision of as much on-site renewable energy as possible for our tenants. Increasing the share of our tenants’ use of renewable electricity (their Scope 2 emissions) will benefit us by directly reducing our Scope 3 emissions and will also contribute to the clean energy transition Europe needs.

Tenant collaboration

A good collaboration with the tenants is crucial for the success of a solar energy project. Normally, the tenants are responsible for procuring their electricity. This project provides the tenants the opportunity to purchase locally generated green energy at an attractive price as Redevco finances the investment of the solar installation for each individual tenant.