This article is from the Australian Property Journal archive
ESR, the largest listed real estate investment manager globally, has join forces with Solar Bay to invest $500 million to accelerate the deployment of renewable energy and create a new blueprint for decarbonising the Australian property sector.
The investment over the next decade will provide renewable energy solutions for ESR Australia’s customers, reducing up to 56,000 tonnes of Carbon Dioxide (Co2) per year with ESR Australia’s customers benefitting from reduced energy costs of up to 50% via the installation of up to 50 Mega Watt’s (MW) of solar capacity, 300MW of battery storage and Electric Vehicle (EV) charging infrastructure.
The partnership will facilitate the installation of renewable energy infrastructure across ESR’s portfolio, with potential to install up to 125,000 solar panels to achieve the 50MW target.
The renewable infrastructure strategy will continually evaluate opportunities for the installation of solar across ESR Australia’s 4.1 million sqm portfolio and 2.3 million sqm development pipeline. Under the partnership, ESR Australia’s future focus will be on continuing to grow its solar capabilities across its entire portfolio.
ESR Australia CEO Phil Pearce said the partnership would expand ESR’s sustainability footprint, while furthering ambitions to deliver a positive contribution to the environment and the broader community.
“It is imperative for ESR to future-proof its assets with consideration of environmental sustainability, and this significant investment into renewable energy infrastructure across our growing portfolio will ensure the continued viability of our operations and those of our customers. We are delighted to partner with Solar Bay, an organisation at the forefront of Australia’s renewable energy technology and infrastructure. ESR Australia will draw on Solar Bay’s expertise in technologies such as embedded networks, rooftop solar, electric vehicle charging, battery storage, and broader renewable energy solutions to deliver infrastructure that addresses our customers’ energy needs today and into the future.
“Our customers’ energy requirements have grown significantly due to the uptake of electric-powered automation and are set to grow with the further adoption of technology and the take up of electric vehicles. Through the provision of clean energy, we are seeking to alleviate pressure on our customers from growing energy costs, while mitigating the environmental impact of the increasing electrification of operations. ESR Australia will work closely with our customers to provide bespoke energy solutions with a view to offering savings of up to 50% on their energy bills with retail providers.” Pearce said.
Solar Bay Director and Co-Founder, James Doyle, said this first-of-its-kind partnership creates a new blueprint for decarbonising the Australian property sector.
“We’re thrilled to be teaming up with ESR to deliver innovative, forward-thinking, renewable energy solutions for their substantial portfolio of properties and customers. Through managing the development, design and installation of customised renewable energy infrastructure, Solar Bay will provide existing and future ESR customers tailored technology solutions that meet their individual business needs. The multi-year partnership also allows us to maximise renewable energy penetration across ESR’s development pipeline by implementing innovative electrification solutions like embedded networks during the build stage, giving customers access to cost-competitive, 100% renewable energy. This partnership is proof of the rapid increase in demand for green energy solutions, and together with ESR we look forward to continuing to play a leading role in the sector’s transition away from carbon-based fuels over the coming years,” Doyle concluded.
