GLP Europe signs Power Purchase Agreement in Spain, creating new onsite solar project
- The rooftop solar photovoltaic system will be installed on the prime logistics asset leased to Romar Global Care in G-Park Sagunto, Valencia.
- This project is expected to generate savings of 11,000 tons of CO2 over its lifetime, equivalent to planting approximately 15,000 trees.
Madrid and Singapore, 19 January 2024 - GLP, the leading global business builder, owner, developer and operator of logistics real estate, data centres, renewable energy, and related technologies, announces that GLP Clean Energy, its renewable energy platform in Europe, has signed a Power Purchase Agreement (PPA) in Spain. The agreement is with Romar Global Care, a leading perfumery, drugstore and cosmetics business.
The project involves the development, installation and maintenance of a solar rooftop array with 6,904 photovoltaic (“PV”) panels and 21 inverters, providing ~3.8 MWp total installed capacity.
The power purchase agreement with Romar Global Care has an initial term of 12 years, providing clean energy to support its onsite operations and excess power generated will be fed into the local grid. This will provide additional support to the municipality of Sagunto with a green, local and reliable electricity supply. This project is expected to generate savings of more than 11,000 tons of CO2 over its lifetime, equivalent to planting approximately 15,000 trees.
This landmark energy transition solution showcases the ease with which logistics assets can migrate to lower carbon emissions, while generating significant cost savings for tenants.
To support the energy transition, GLP seeks to offer customers with renewable energy solutions across its global real estate portfolio, including solar PV systems, battery storage and electric vehicle infrastructure.
With the signing of this contract, GLP Clean Energy advances its development plan to install solar panels across approximately 11 million SQM of logistics assets. The team is in advanced stages of completing 60 MW of renewable energy projects across Europe with a future target of reaching 500 MW.
Pablo Rodríguez-Gimeno, CEO of Romar Global Care, said: "This project is a fundamental part of our sustainability strategy, with which we seek to mitigate our impact on the environment, while generating significant savings to preserve our competitiveness. We expect to reduce our energy consumption from the grid by around 1,600 MWh per year.”
Stefano Fissolo, Senior Director of GLP Clean Energy for Europe, said: "The signing of this PPA agreement in Spain further builds the momentum in our clean energy offering in response to the high levels of demand we are seeing from our customers. We already have plans underway to deploy further projects across ten countries in Europe. In line with GLP’s longstanding commitment to sustainability, our ultimate goal is to support our real estate customers in their energy transition towards a more sustainable future".
About RGC:
Romar Global Care - Agrado Cosmetic, Quimiromar and Envasado Xiomara - is a group specialised in the manufacture of cosmetics, perfumery, personal care, personal hygiene and drugstore products owned by the GPF investment fund. It is the leading aerosol packager in Spain and one of the most important in liquids.
With more than 50 years of experience, it directs its wide range of products to the mass market channel with a clear consumer centric vision. The group is committed to sustainability and innovation with value for money criteria and following high quality standards (the group has ISO 9001, ISO 22716 and IFS-HPC).
In its mass market product portfolio, it stands out with the brands Agrado and Amalfi in personal care and hygiene, Mayordomo and Romar in drugstore and household or Garley in automotive and garden, among others.
With a turnover forecast for 2022 of 111 million euros, the company is expanding internationally and is present in more than 70 countries in Europe, North America, North Africa, the Middle East and Latin America.
About GLP
GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy, and related technologies. GLP’s deep expertise and operational insights allow it to build and scale high-quality businesses and create value for its customers. GLP owns and operates assets and businesses in 17 countries across Asia, Europe and the Americas. GLP Capital Partners, a global alternative asset manager with approximately $126 billion in assets under management as of 30 September 2023, is the exclusive investment and asset manager of GLP. To learn more about GLP, visit www.glp.com/global.
