GLP To Invest US$82 Million in Rooftop Solar Panels in Japan
GLP will install solar panels on the rooftops of 22 properties in Japan. GLP has qualified for the new feed-in-tariff scheme recently introduced by Japan’s Ministry of Economy, Trade and Industry, under which property owners who meet certain criteria are able to install solar panels on their properties and sell the electricity generated to utility companies.
- GLP will install solar panels on the rooftops of 22 properties in Japan and sell the electricity generated to utility companies
- US$82 million investment will generate a levered IRR of approximately 17%, creating a new revenue stream for GLP
- Solar panels are expected to generate electricity equivalent to the annual consumption of approximately 5,300 households
Singapore, 21 January 2013 – Global Logistic Properties Limited (“GLP”), one of the world’s leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil, today announced that it will install solar panels on the rooftops of 22 properties in Japan.
GLP has qualified for the new feed-in-tariff scheme recently introduced by Japan’s Ministry of Economy, Trade and Industry, under which property owners who meet certain criteria are able to install solar panels on their properties and sell the electricity generated to utility companies. Under the program, GLP will receive JPY40 (US$0.44 ) per kWh over a 20-year period.
Yoshiyuki Chosa, President of GLP Japan, said, “As a leading developer of large-scale, modern and environmentally-friendly logistic facilities, we are delighted to announce the launch of this exciting project. In addition to promoting renewable energy generation, the solar panels create a new revenue stream for GLP.”
GLP will install solar panels on 305,000 sqm (3.3 million sq ft) of rooftop space over 22 buildings for an estimated total investment of JPY 7.4 billion (US$82 million). GLP expects to generate a levered IRR of approximately 17% on the investment.
GLP expects to use high quality solar panels produced by Yingli Green Energy Holding Company Limited, a leading solar panel manufacturer worldwide. The solar panels are estimated to generate a total of 29.6 megawatts (MW) per hour or 29,000 MW per annum, enough to power approximately 5,300 households each year. The installation is scheduled to commence April 2013, with the panels expected to be fully operational March 2014.
List of GLP Properties to be Solar Panel Installation
Greater Tokyo
1. GLP Atsugi
2. GLP Ichikawa
3. GLP Kashiwa
4. GLP Kawasaki
5. GLP Misato II
6. GLP Misato III
7. GLP Narita II
8. GLP Sodegaura
9. GLP Sugito
10. GLP Tokyo II
11. GLP Urayasu III
12. GLP Akishima
Greater Osaka
13. GLP Amagasaki
14. GLP Fukaehama
15. GLP Fukusaki
16. GLP Maishima II
17. GLP Osaka II
Greater Nagoya
18. GLP Komaki
Western Japan
19. GLP Soja
Southern Japan
20. GLP Kiyama
21. GLP Tosu I
Northern Japan
22. GLP Tomiya
※1 Excluding consumption tax
※2 Unless stated,all exchange rates are reported as 1 USD = JPY90.1, the closing exchange rate as of 18 January 2013
About Global Logistic Properties (www.glprop.com)
Global Logistic Properties (GLP) is one of the world’s leading providers of modern logistics facilities, with a market-leading position in China, Japan and Brazil. It owns, manages and leases out 505 completed properties in 205 logistics parks spread across 60 cities and states in China, Japan and Brazil, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-suit and Sales-and-leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on October 18, 2010 (Stock code: MC0.SI)
About Yingli Green Energy (www.yinglisolar.com)
Yingli Green Energy Holding Company Limited, which markets its products under the brand "Yingli Solar," is a leading solar energy company and one of the world's largest vertically integrated photovoltaic manufacturers. Yingli Green Energy's manufacturing covers the entire photovoltaic value chain, from the production of polysilicon through ingot casting and wafering, to solar cell production and module assembly. Headquartered in Baoding, China, Yingli Green Energy has more than 20 subsidiaries and branch offices worldwide and distributes its photovoltaic modules to a wide range of markets, including Germany, Spain, Italy, Greece, France, South Korea, China, Japan and the United States. Yingli Green Energy is publicly listed on the New York Stock Exchange (NYSE: YGE)
Issued by: Global Logistic Properties Limited
GLP Investor Relations & Media Contact:
Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com
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