Real estate investment trust Liberty Two Degrees (L2D) is continuing to roll out solar energy capacity across its asset portfolio.
To achieve its Scope 1 and 2 net-zero emissions target by 2030, the company says it continues to make considerable strides in implementing portfolio-wide energy management improvements, while also increasing solar capacity through the installation of additional solar photovoltaic (PV) panels.
These initiatives will ensure that about 25% of L2D’s total energy consumption will be from renewable sources by 2025.
L2D’s development team enabled the commissioning of a 1 MW alternating current (ac) solar project at Promenade Mall, in Cape Town, in June 2022, which will see the centre’s carbon footprint offset by 1 934 t/y of carbon dioxide (CO2).
This solar installation can generate 5 097 kWh a day.
This will add to the 1 MW ac solar installations in the portfolio at Midlands Mall, in KwaZulu-Natal, and Eastgate Shopping Centre, in Gauteng.
Further to this, an additional 4 MW ac and 4.3 MW ac of solar power projects are currently under way at Midlands Mall and Eastgate Shopping Centre, respectively, which is anticipated to save 7 405 t and 9 076 tons of CO2 emissions each year respectively.
L2D is also rolling out solar energy at Sandton City with a 1 MW ac installation planned, and at Nelson Mandela Square a 0.3 MW ac installation is in the pipeline. L2D is also actively pursuing wheeling opportunities into the Sandton City precinct.
“Midlands Mall and Eastgate were identified to receive additional solar capacity as part of our sustainability roadmap. Solar is a reliable, clean source of energy and a critical component to our net-zero carbon 2030 strategy, as well as our Good Spaces strategy,” comments L2D asset management executive Brian Unsted.
The Good Spaces strategy focuses on the importance of partnering with stakeholders to accelerate its positive impact on the natural environment, and about being bold in driving net-zero commitments across the business operations and sites.
“While the installation of solar power will not remove these two retail assets off the Eskom grid completely, it will reduce the reliance on Eskom’s coal-generated electricity supply by a projected 36% for Midlands and 32% for Eastgate, simultaneously reducing exposure to above-inflationary increasing electricity tariffs.
“Once the solar systems have been installed, operational costs will also be much lower compared to other forms of power generation,” says Unsted.
The Midlands Mall project is projected to be completed in July, while the installation at Eastgate will be commissioned in phases and is expected to be completed in November 2024.
Enablement work has already started here with the official start set for November. L2D notes that the longer duration with the Eastgate project is owing to the construction of steel subframes needed to house the PV panels.