GLP Announces 56 Percent Increase in Solar Power Capacity in 2020 and Other ESG Initiatives
GLP has 1.5 million sqm of rooftop solar panels globally, producing approximately 86 megawatts (MW). Solar capacity has increased by more than 56%, driven by China which expanded its solar rooftop capacity by 113%.
- Opens largest solar powered logistics facility in Brazil
- Increases global rooftop solar panels to 1.5 million sqm
- Global sustainable building certifications rise to 203
Singapore, 31 August 2020- GLP announced today that since the start of the year it increased its solar capacity by more than 56 percent, driven by China which expanded its solar rooftop capacity by 113 percent. GLP’s investment in renewable energy infrastructure leverages and supports its core logistics real estate business and the company now has 1.5 million sqm of rooftop solar panels globally, producing approximately 86 megawatts (MW).
In Brazil, GLP has opened the largest solar powered logistics facility in the country at GLP Louveira VII in São Paulo. The 26,700 sqm property is operated by a global logistics company and serves as a regional distribution center for one of the largest sporting companies in the world. The facility is designed specifically to help meet the customers’ sustainable emission reduction targets.
In China, GLP continues to replace fossil fuel energy with solar power, with approximately 34 MW capacity added to the grid in the first half of this year, representing a 113 percent growth of existing capacity. The expansion is part of GLP and Brookfield’s solar energy joint venture to build China’s largest platform for distributed solar energy on logistics and commercial rooftops. The partnership intends to become China’s largest rooftop solar power provider with total installed capacity of 64 MW today covering 27 logistics and industrial parks1and growing to 415 MW by end of 2021 and one gigawatt over time, which is the equivalent to the annual consumption of approximately 750,000 households.
In Japan, GLP’s installed rooftop solar panels generate about 67 million kilowatt hours (kWh) annually which is equivalent to the average power requirement of about more than 12,000 homes and reduces carbon dioxide (CO2) emissions by 24,000 tons. GLP’s newest developments GLP ALFALINK Nagareyama (phase 2) and GLP ALFALINK Sagamihara will be equipped with solar rooftop systems so that in the event of a power outage or an emergency, the facilities are capable of providing electricity for 72 hours by installed generators and solar panels.
Ming Mei, co-founder and CEO of GLP said, “We view sustainability as an essential part of our long-term success as investors and business builders. At GLP, we focus on efficiency as our leading ESG metric and the integration of solar power is key to increasing the efficiency of our assets as well as adding financial and environmental value. It is also another way we can support our customers with their ESG goals.”
Global Sustainable Building Certifications
GLP continues to drive the development and management of modern logistics facilities of high functionality and sustainability, while accommodating customers’ needs to introduce automation and robotics equipment to enhance operational efficiency. The company has a strong history of building environmentally-friendly logistics facilities, with more than 203 global sustainable building certifications including LEED, BREEAM, BELS, CASBEE, DNJB, DBJ, EDGE and HQE.
So far in 2020, GLP has added more than 90 sustainable building certifications to its global portfolio which typically feature a range of energy- and water-saving features including solar panels, rainwater harvesting systems, energy-efficient lighting, thermal insulation materials and responsibly sourced timber.
Notably, GLP Misato III was the first logistics facility in Japan to be certified LEED2Platinum (the highest possible rating) in 2013, while in China, GLP delivered a LEED Gold build-to-suit facility for Adidas in Suzhou, Eastern China which was also the global sporting company’s largest distribution center in Asia.
The IndoSpace team recently received EDGE3certifications for IndoSpace Logistics Park Luhari I & Luhari II (near Delhi), elevating their status in the country as a leading provider of sustainable logistics facilities. They are also the first ever globally to have incorporated EDGE certified green buildings in the warehousing space by international independent reviewer CICERO Shades of Green.
Green Financing
In May 2020, IndoSpace set a new benchmark in green financing with the closing of a INR 10 billion (approximately US$134 million) facility provided by HSBC. The debt facility is the largest portfolio financing seen in the logistics and warehousing space in India, covering 14 projects located in prime warehousing hubs of Pune, Chennai, Bangalore and Delhi, and also the first-ever green loan for logistics real estate in India. IndoSpace Core's Green Finance Framework is rated 'Medium Green'.
Net Zero Carbon Construction
And in August,GLP Europecompleted the first ever development verified as net zero carbon for constructionin line with the UK Green Building Council framework. The development, known as Magnitude 314, was developed at GLP’s flagship logistics park Magna Park Milton Keynes. It is GLP’s sixth building to go through the Planet Mark accreditation scheme and part of its strategy to reduce the carbon footprint further.
About GLP
GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. Our combined investing and operating expertise allows us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, and the U.S. and have US$89 billion in assets under management in real estate and private equity funds. Learn more atglprop.com
About ESG at GLP
GLP is committed to a broad range of environmental, social and governance commitments that elevate our business, create value for our shareholders and investors, support our employees and customers, and show respect to the local communities in which we work. We focus on improving efficiency across our businesses through the use of data and technology and are able to reduce consumption, better manage assets and invest capital more efficiently.
Media Contact:
Meredith Balenske
SVP, Global Communications
Tel: +852 6116 6709
Email:mbalenske@glprop.com
Investor Contact:
Craig Duffy
Managing Director, Fund Management
Tel: +852 3959 7009
Email:cduffy@glprop.com
