ESR forms Australian renewable energy partnership
ESR Group has formed a renewable energy partnership with Australian company Solar Bay.
The partnership will enable the Asian real estate investment manager to meet demand from its customers for renewable energy solutions, deploying up to A$500 million ($320 million) over the next ten years to deliver up to 50MW of solar panels, 300MW of battery storage capacity and EV charging infrastructure.
The partnership will facilitate the installation of renewable energy infrastructure across ESR's 4.1 million sq m industrial and logistics portfolio and 2.3 million sq m development pipeline.
ESR Australia CEO, Phil Pearce, said: "It is imperative for ESR to future-proof its assets with consideration of environmental sustainability, and this significant investment into renewable energy infrastructure across our growing portfolio will ensure the continued viability of our operations and those of our customers.
"Our customers' energy requirements have grown significantly due to the uptake of electric- powered automation and are set to grow with the further adoption of technology and the take up of electric vehicles. ESR Australia will work closely with our customers to provide bespoke energy solutions with a view to offering savings of up to 50% on their energy bills with retail providers.”