en.Wedoany.com Reported - Real estate investment trust Hyprop Investments has completed and commissioned the second phase of its solar photovoltaic project at The Glen shopping centre, with a total investment of R45 million, increasing the centre's total installed solar capacity to 4,304 kilowatts.
The system is expected to generate over 5 gigawatt-hours of clean electricity annually, meeting more than 40% of the shopping centre's energy needs while saving over R12 million in energy costs each year. The photovoltaic panels are installed on large carport structures, providing shade while powering the shopping centre.
Hyprop stated that in response to rising energy prices, the company has increased its focus on energy management and sustainable procurement, establishing a dedicated internal department while collaborating with external experts to optimise operational efficiency and reduce energy consumption.
The solar project at The Glen is a key component of Hyprop's strategy to reduce its environmental impact and operational costs. Currently, Hyprop's South African portfolio has a total installed solar capacity of 21.975 megawatts, meeting up to 17% of the portfolio's energy needs.
Steven Riley, Hyprop's Head of Projects and Sustainability, said the company is committed to creating sustainable value across its portfolio, actively pursuing operational excellence and responsible environmental management through solar and energy management investments at The Glen. By embracing advanced technology, efficient processes, and a focus on sustainability, the company is helping shape a resilient future for South Africa's retail sector.
Four additional solar photovoltaic projects are underway in Hyprop's South African portfolio, along with two projects under construction at retail centres in Croatia. Meanwhile, multiple feasibility studies are being conducted for battery energy storage systems for the South African portfolio.
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