An agreement is being signed by Growthpoint Properties with Solar Century and Eskom according to which an utility scale solar power plant will be installed on the rooftop of the Waterfall Mall in Rustenburg. 892 megawatt hours of electricity will be generated every year by this plant.
The head of utilities at Growthpoint Properties- Essop Basha said that the rooftop plant will generate an equivalent power as required by around 750 average sized homes. “Growthpoint has guided an alternative for energy generation at three of our office properties, but this is our first utility scale development and that also the first at a shopping mall. It is approx 13 times larger than the first rooftop solar plant tested by Growthpoint.”
He further explained that the projects is in partnership Eskom’s integrated demand management (IDM) which sponsored 20% of the capital cost as a part of its subsidy programme for small scale renewables.
The Managing Director of Solar Century Gareth Warner, believes that the Waterfall Mall installation clearly states that the solar voltaic provides numerous benefits to the business, also adding that Growthpoint will benefit from the reduction in carbon emission as well as a reduced electricity costs at the mall.
Growthpoint has been the awardee for the efforts in viable business practices which also includes the South African Property Owners Association Innovative Excellence Awards for Green Development, the 2013 Nedbank Capital Sustainable Business Award and also a Gold Certificate of Recognition for its carbon disclosure from the National Business initiative.
It is also shortlisted for the innovation Award at the 2013 African Legal Awards for its Green Lease that has been signed by most of renters in Growthpoint’s extensive portfolio of office buildings. This shared the cost of savings achieved through green initiatives, will be used due to which more resource efficient operations can be successfully completed.
Growthpoint is South Africa’s largest real estate investment trust (REIT) and also among Top 40 Index company of JSE ALSI. Growthpoint owns and also manages 393 properties all over South Africa, 44 properties in Australia by investing in GOZ and a 50% interest in the properties at V&A Waterfront, Cape Town. Growthpoint’s combined value of tangible assets is over R60.0 billion.
