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The rooftop solar photovoltaic system will be installed on the prime logistics asset leased to Romar Global Care in G-Park Sagunto, Valencia.
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This project is expected to generate savings of 11,000 tons of CO2 over its useful life, equivalent to planting approximately 15,000 trees.
GLP announces that GLP Clean Energy has signed a Power Purchase Agreement (PPA) in Spain. The agreement is with Romar Global Care, a leading perfumery, drugstore and cosmetics business.
The project involves the development, installation and maintenance of a solar rooftop array which will use 6,904 photovoltaic panels and 21 inverters to create energy. The total capacity of this rooftop solar installation will be ~3.8 MWp.
The power purchase agreement with Romar Global Care has an initial term of 12 years. In addition to the clean energy provided onsite to Romar Global Care, excess power will be fed into the local grid. This will provide additional support to the municipality of Sagunto with a green, local and reliable electricity supply. This project is expected to generate savings of more than 11,000 tons of CO2 over its lifetime, equivalent to planting approximately 15,000 trees.
This landmark energy transition solution showcases the ease with which logistics assets can migrate to lower carbon emissions, while generating significant cost savings for tenants.
To support the energy transition, GLP seeks to offer renewable energy solutions across its global real estate portfolio, including photovoltaic, battery storage and sustainable mobility solutions.
With the signing of this contract, GLP Clean Energy consolidates its ambitious development plan of solarizing ~11 million SQM of logistics assets. GLP Clean Energy is currently in advanced stages of completing renewable energy projects totalling ~60 MW across Europe with the ambition of delivering 500 MW in the future.
Pablo Rodríguez-Gimeno, CEO of Romar Global Care, said: “This project is a fundamental part of our sustainability strategy, with which we seek to mitigate our impact on the environment, while generating significant savings to preserve our competitiveness. We expect to reduce our energy consumption from the grid by around 1,600 MWh per year.”
Stefano Fissolo, Senior Director of GLP Clean Energy for Europe, said: “The signing of this PPA agreement in Spain further builds the momentum in our clean energy offering in response to the high levels of demand we are seeing from our customers. We already have plans underway to deploy further projects across ten countries in Europe. In line with GLP’s longstanding commitment to sustainability, our ultimate goal is to support our real estate customers in their energy transition towards a more sustainable future”.
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