Old Mutual Real Estate Holding Company (OMREHC) has entered into a 10-year energy supply agreement with NOA Group Trading. The agreement will deliver over 90% renewable energy to the Eskom-connected portion of OMREHC’s commercial property portfolio through a wheeling agreement.

The supplied renewable energy will come from a combination of photovoltaics (PV) and wind energy. The agreement, set to begin in 2026 when the fleet of generation facilities reaches commercial operation, is part of OMREHC’s broader initiative to apply renewable energy across its commercial property portfolio.

“This agreement aligns with our commitment to climate-conscious practices and supports a sustainable future, particularly given South Africa’s energy challenges,” says Sakina Nosarka, CEO of OMREHC. “We aim to ensure our properties have reliable services while contributing to national energy security.”

In addition to focusing on its commercial properties, OMREHC is considering expanding the renewable energy solution to other properties within its portfolio as part of its long-term strategy. The deal coincides with growing efforts by municipalities like the City of Cape Town and Ekurhuleni, which are advancing plans to enable wheeling solutions for local businesses.

NOA is working on a system called virtual wheeling, which will enable businesses connected to municipal grids to use renewable energy sources, says Karel Cornelissen, CEO of NOA.

“The system is expected to launch in 2025 after a successful pilot programme by Eskom and Vodacom aimed at expanding access to renewable energy within the commercial property sector.”