Industria REIT have engaged GEM Energy to deliver an industrial scale solar project at the Business Technology Park (BTP) in Brisbane. The project will see the installation of up to 1.0 MW of solar panels installed over 6 properties in Eight Mile Plains.
Industria REIT (ASX code: IDR) is a listed Australia Real Estate investment trust that provides affordable workspaces for Australian businesses. When asked about the recent commitment into large scale solar, Industria REIT commented “The financial proposal that GEM Energy provided made sense from an investment point of view. As well as corporate social responsibility, this is an investment that our shareholders and commercial tenants will benefit from.”
On a project of this scope it is critical that your provider has demonstrated the necessary expertise and experience. GEM Energy’s financial stability together with that of the manufacturers we promote was another key consideration.
The National Sales Manager of GEM Energy Aaron Hilton commented, “Rapidly rising energy rates are eating into the hard-won profits of many Australian companies. Industria REIT’s decision will provide a high degree of confidence around a large portion of their sites energy usage. This realization is becoming obvious for many different businesses. If you don’t have solar on your roof, you’re paying too much.”
Alex Abell, Fund Manager of Industria REIT: “This is a great win-win outcome that future proofs our assets and leverages the natural benefits of our properties in the sunshine state. Our proactive approach will result in approximately 41% of the combined sites total energy consumption being generated sustainably, whilst also reducing the ongoing costs and improving the ESG credentials for our tenants. This innovative project will create value for our tenants and provide a healthy return for our securityholders.”
The partnership between the two companies will include almost 3,000 solar panels and be one of the largest business park installations in the country. The installation is scheduled to be completed in early 2018.