Growthpoint Properties, a real estate investment trust, has introduced the “e-CO2” benefit scheme at 10 of its properties in Sandton.
The initiative, established through a power purchase agreement with Etana Energy, aims to deliver “green” energy to commercial properties by leveraging a wheeling system. The system will transport electricity generated from multiple renewable sources by independent power producers to Growthpoint’s buildings across South Africa.
The first buildings selected to participate in the e-CO2 scheme include 138 West Street, The Annex, The Place, Fredman Towers, The Towers, Grayston Office Park, Sandown Mews, 12 Alice Lane, Advocates Chambers and Pinmill Farm.
These buildings lack sufficient roof space for significant on-site renewable energy production, according to Growthpoint. To address this, the company has secured exclusive rights from Etana Energy to purchase 30 GWh annually from Serengeti Energy’s hydro-electric plant. Located on the Ash River in the Lesotho Highlands Water Scheme near Clarens, the hydro-electric plant is set to provide continuous baseload power from July 1 next year.
Tenants will receive a renewable energy certificate using blockchain technology to ensure transparency and accuracy, Growthpoint stated.
The e-CO2 benefit scheme will enable businesses to reach their sustainability targets by simplifying the process as a minimum of 70% of their electricity will come from renewable sources. “The agreement secures us a significant 195 GWh of clean electricity annually for Growthpoint and our tenants at specific buildings,” said Paul Kollenberg, Growthpoint Properties Head of Assessment Management: Offices.
