The forecast growth in the EV market, coupled with the energy shortages and price spikes that the world is currently experiencing, means the search for energy independence and greener energy production is critical.

Currently, Greenman OPEN generates c.350,000 kWh on 2% of its roof space. We established Greenman Energy to expand on the potential of this underutilised space, and we target to install PV solar panels on c. 1.3km² of our retail centre’s roof space (the equivalent of c. 130 rugby pitches). These panels will have the capacity to generate c. 27gWh per year of energy, enough to power the population of Killarney, Ireland, for a year.

The first rollout planned for this project will happen this year in Mahlsdorfer Märkte, one of OPEN’s retail centres in Berlin. The PV panels will be operational by October this year and generating c. 303,000 kWh/yr, supporting our tenants’ energy needs.

Mahlsdorfer Märkte will also be our first retail centre to benefit from hyper-fast EV charging stations.

At the beginning of 2022, approximately 1.3% of the 48.5 million registered vehicles in the automotive market were electric. It is projected that an increase to c.12 million electric vehicles (EVs) can be expected by 2030.

Greenman Energy targets to implement c. 270 hyperchargers into the carparks in OPEN’s portfolio, establishing a charging infrastructure that will enable 1.4 million charges, enough to travel around the globe 188 times!

These projects will have a hugely positive impact on OPEN’s carbon footprint, with the ability to save c. 17,000 tonnes of CO2 annually by 2027. We forecast that in the near future, OPEN will be able to certify and sell credits linked to the carbon savings generated by the PV and charging activities, potentially increasing additional revenue to the fund and supporting our 5by25 strategy.