As part of a growing trend of real estate developers and property owners turning to commercial solar and seeing positive impacts on tenants, the environment and their bottom line, Stockland will soon be rolling out the largest ever real estate solar project in Australia. Todae Solar has been selected to install a 1.86 MW addition to the already existing system at Stockland Green Hills as part of an overall multi-site solar rollout.
The $23.5 million investment is part of an overall sustainability goal for Stockland. Mark Steinert, Managing Director and CEO of Stockland said, “We are 100% committed to investing in sustainable energy. We’re extremely proud to be setting a new standard in solar for Australian property which will help create clean, green energy for our retailers, our customers and the communities we operate in.”
The projects will be rolled out across 10 shopping centres in QLD, NSW, and VIC. Following a successful 1.22MW installation by Todae Solar at Stockland’s Shellharbour shopping centre in June 2015, the real estate company selected Todae Solar as the installer for Stockland Green Hills due to demonstrated excellence and assurance in quality, an innovative solution, and ultimately, performance and bankability.
“We built the first system for Stockland,” says Todae Solar CEO Danin Kahn. “We are now seeing systems getting larger and the business case improving so it’s exciting for us to continue to partner with Stockland on their journey.”
At the time of installation, the Stockland Shellharbour solar project was the largest single rooftop solar project in NSW. The efficacy demonstrated in the Shellharbour project and Todae Solar’s innovative design approach to the Green Hill’s project gave Stockland confidence in selecting Todae Solar as their partner for this project.
Combined, the overall rollout is expected to produce of energy every year, the equivalent to driving an electric car around the world 2,381 times.
Stockland is the first of its kind in Australia to follow the global trend in markets such as the US, Europe and the UK of large-scale multi-site rollouts; with some US based companies having more than 200MW across their property portfolios.
Stockland had a target of delivering 1.35MW of renewable energy by FY17, but has since well-surpassed this goal with a total 2.26 MW of solar PV capacity across its retail portfolio at the start of the financial year. Todae Solar congratulates and encourages this kind of leadership in the real estate sector.
The continued participation in this ambitious solar rollout reaffirms Todae Solar’s position as a leader in the commercial solar space and demonstrates the ability of the company to understand and deliver the best solutions for real estate, property management, and large corporates.