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Greenman Group talks to Immobilien Zeitung about their plans to make Greenman OPEN one of Europe’s largest climate-neutral real estate funds

Last week, CEO’s of the Greenman Group gathered at MIPIM, the annual international real estate trade fair in Cannes, to network, discuss real estate industry trends and exchange market opinions. On this occasion, Johnnie Wilkinson, CEO of the Greenman Group, Maximilian Bley from Greenman Energy and Catherine Choo, CEO of yes&, spoke to Germany’s leading real estate newspaper Immobilien Zeitung, talking about sustainability, providing insights into the group’s strategy, and their ambitions for its fund Greenman OPEN’s pathway to net zero.

By 2050, OPEN’s portfolio is intended to be climate-neutral, with CO2 emissions reduced to -5,000 tonnes per year. One of the steps to achieving this is by equipping the fund’s grocery-anchored properties with photovoltaic systems which by 2027 should be generating around 30 gigawatt hours of renewable energy. The energy generated by these systems can be used to power, amongst other things, the heating and cooling equipment of the supermarkets.

“The idea behind this is that the cooling compartments should cool most strongly when the sun is shining brightest, and the most electricity is generated. The resulting cooling will still be effective when the PV systems generate less electricity again”, says Johnnie Wilkinson. “There are considerations to set up a so-called Virtual Power Plant. Within its framework, surplus electricity would be exchanged between the different Greenman properties via the public grid. This would make it possible to use it for vertical farms that are currently being developed or planned, which still have a high demand for energy, especially for lighting”, adds Wilkinson.

The plan is part of the “5 by 25” strategy, which aims to have 5% of the fund’s revenue come from sources not related to rent by 2025. The Greenman Group also plans to equip the buildings with more sensors to optimise their operation and meet the requirements of the EU taxonomy.

Read the full interview here (behind the paywall)

Image copyright: Immobilien Zeitung; creator: Florian Hartmüller