NEPI Rockcastle is investing EUR 100 million to expand its solar energy capacity in Romania, an investment set to add 159 MW of power, cover 80% of the company’s energy needs, and reduce its carbon footprint by 36%.
Expanding Solar Production Capacity
As the largest mall owner in the country, NEPI Rockcastle has announced a significant EUR 100 million investment in greenfield photovoltaic projects across several new locations. This expansion is aimed at meeting the energy needs of its tenants while contributing to a more sustainable future.
NEPI Rockcastle invests EUR 100 million in solar energy, adding 159 MW to power its malls in Romania.
This initiative will dramatically boost NEPI Rockcastle’s solar production capacity. According to Economica.net, the new solar facilities are expected to add 159 MW of energy to the group’s existing output and become operational by the end of 2026.
Once complete, the projects will cover 80% of the energy needs for NEPI Rockcastle’s Romanian portfolio. This substantial increase in self-generated power will not only reduce energy costs for tenants but also play a crucial role in lowering the company’s carbon footprint by 36%.
Successful Completion of Phase One
These new solar projects mark a significant step in NEPI Rockcastle’s commitment to sustainability, building on considerable progress. Earlier this year, the company completed the installation of photovoltaic panels on the roofs of 27 properties across Romania.
Funded by an initial EUR 34 million investment, that initiative has already proven financially successful, generating EUR 4.1 million in revenue in the first half of this year alone. Building on this success, NEPI Rockcastle is now moving into the second phase of its solar strategy, which involves installing photovoltaic panels at 24 additional locations outside of Romania with an estimated investment of EUR 15 million. This project is currently in various stages of authorization.
Solar Investment: A Strategic Move for Sustainability
The decision to invest heavily in solar energy reflects the global shift toward renewables. Solar energy in particular has become increasingly popular for its long-term cost savings and environmental benefits. More than a trend, solar investment is becoming a necessity as companies recognize the importance of reducing their carbon footprint.
By investing in solar power, businesses can meet their energy needs more sustainably while decreasing their reliance on traditional sources. For NEPI Rockcastle, the benefits are clear: the company can lower its energy costs while meeting its sustainability goals. This investment is expected to pay off as the new facilities come online and begin generating power in the coming years.
Positive Impact on Tenants and Reputation
This solar investment will also benefit NEPI Rockcastle’s tenants. By covering 80% of the energy needs for its Romanian portfolio, the company can offer more competitive energy rates.
This is particularly important in the current economic climate, where energy costs are a significant concern for businesses. Lower energy costs will make NEPI Rockcastle’s properties more attractive to potential tenants and help boost occupancy rates. Beyond the financial benefits, the investment will enhance NEPI Rockcastle’s reputation as a socially responsible company.
As sustainability becomes increasingly important to consumers and investors, this move underscores the company’s commitment to a sustainable future. Overall, NEPI Rockcastle’s EUR 100 million investment in solar projects represents a major step forward in its sustainability strategy, setting an example for other real estate developers in Romania and beyond.
By investing in solar energy, NEPI Rockcastle is reducing its carbon footprint while securing long-term financial benefits for itself and its tenants. This investment is a clear win for the company, its tenants, and the environment.
