Union Investment builds large-scale photovoltaic system on retail park in Garbsen with ENVIRIA

Hamburg, Thursday, 19th of December 2024 - The Planetencenter retail park in Garbsen near Hanover will be equipped with a photovoltaic system covering around 4,300 m². The financing is being provided by a special fund of Union Investment, whose portfolio has included the retail property since 2022. The system will be installed and later operated by ENVIRIA, Germany's leading solar company for commercial and industrial customers, based in Frankfurt am Main.

• 2,204 photovoltaic modules with an output of around 960 kWp

• Garbsen as part of Union Investment's overarching PV strategy

• Further pilot projects in Constance and Nuremberg in preparation

The installation of the 2,204 photovoltaic modules began at the end of November and is expected to be completed by mid-2025. These modules are expected to produce around 880,000 kWh of electricity per year. This will enable annual CO2 savings of around 410 tons. To offset the same amount of CO2 through other means, it would, for example, take an equivalent of 14,000 mature trees. In addition to covering the center's general electricity needs, the plant will primarily supply the tenants of the buildings at Planetenring 25-27 and 31-33 with affordable, locally produced electricity. Any surplus will be fed into the grid in Garbsen.

On a rental area of approx. 16,500 m², there are approx. 37 rental units with tenants such as Edeka, Aldi, Rossmann, Deichmann, Fressnapf, KIK, Tedi and numerous service providers and restaurants.

The real estate investor considers the new PV system, which is part of Union Investment's overarching PV strategy, as an important step towards sustainability. “The Planetencenter is the first of three pilot projects from our retail and logistics portfolio that will enable us to identify the future potential of infrastructure investments in existing buildings and make very concrete contributions to phasing out fossil fuels,” says Henrike Waldburg, Member of the Management Board of Union Investment Real Estate GmbH, Hamburg. The three pilot projects that have been launched in Garbsen, Constance and Nuremberg will cover a total roof area of over 40,000 m². The estimated volume of electricity generated will be over 3.8 million kWh per year in total.

“Our Sale & Lease Back model allows Union Investment to focus on its core business while we take full care of the PV system. We are delighted to be working with Union Investment and to add value to their real estate through our expertise in the field of solar energy”, says Melchior Schulze Brock, founder and CEO of ENVIRIA.

Union Investment represents forward-looking real estate investments and active asset management worldwide for almost 60 years. With assets under management in open-ended mutual real estate funds, special funds and service and bundling mandates totaling around EUR 56.4 billion, Union Investment is one of the leading real estate investment managers in Europe. Union Investment currently holds around 500 properties in 25 countries worldwide in its actively managed portfolio. Its real estate investments focus on the office, retail, hotel, logistics, residential and mixed-use sectors.

www.union-investment.de/realestate

ENVIRIA makes it radically easy for companies to switch to solar energy. The startup takes on the financing, planning, installation and operation of solar systems, as well as the integration of charging stations and energy storage. Solar systems can be purchased or rented. ENVIRIA also leases company rooftop areas, operates solar systems on them and markets green electricity. With more than 200 employees, ENVIRIA has implemented more than 500 commercial projects since it was founded in 2017. 

www.enviria.energy