CASE STUDY
Accelerating the Energy transition
Renewable energy solutions with no upfront investment (PPA) for Sonae Sierra
THE COMPANY
Sonae Sierra,
an international leader
in the real estate sector
Sonae Sierra is an international leader in the real estate sector, recognized for its expertise in the creation, management, and investment of innovative and sustainable assets. As part of its commitment to more responsible growth, the company has begun its energy transition with the aim of improving its efficiency, reducing emissions, and strengthening the sustainability of its operations. In this endeavor, Sonae Sierra is relying on Greenvolt Next as a key partner to develop and implement energy solutions tailored to its needs, thus accelerating its progress toward a more sustainable future.
THE PROJECT
Developing and implementing strategic solutions
Since the start of the collaboration, photovoltaic solar systems have been installed on the roofs of multiple Sonae Sierra shopping centers in Spain, Portugal and Romania, almost all under a Power Purchase Agreement (PPA). While in Spain the installations represent a total capacity of 1,944 kWp, in Portugal there’s a total of 8700,38 kWp of installed power, and in Romania a total of 355,30 kWp were installed.
These projects collectively mark a significant first step in the company’s energy transition. Furthermore, new projects are already underway in Spain and Portugal, with the aim of further expanding renewable energy generation and reinforcing Sonae Sierra’s commitment to a more sustainable and efficient model.
Key numbers that
speak for themselves
Sonae Sierra in Portugal
13
Shopping Centers
8,831
kWp
Installed capacity
2,993
tons
CO2 avoided (first year)
Sonae Sierra in Spain
4
Shopping Centers
1,944
kWp
Installed capacity
350
tons
CO2 avoided per year
PPA
Financing type
+16,500
trees
Energy savings are equivalent to planting
Sonae Sierra in Romania
1
Shopping Center
355,30
kWp
Installed capacity
1.095
pannels
PPA
Financing type
226.7
tons
CO2 avoided per year
THE CHALLENGE
Surpassing several challenges
The development of these facilities has involved facing several challenges:
Carrying out the work without interrupting the normal activity of the shopping centers, guaranteeing the operational continuity of the spaces throughout the entire project.
Unavailability to access the entire roof, which increased complexity in construction times and costs and coordination with multiple stakeholders involved in the projects
Managing the acquisition of permits in different autonomous communities, considering their different regulations, administrative procedures, and processing times
SOLUTIONS
A tailored solution to meet Sonae Sierra’s needs
Faced with the key challenge of costly energy consumption in shopping centers, the technical solution that Greevolt Next proposed to Sonae Sierra was a Power Purchase Agreement (PPA). This gave the company access to energy without the need for an initial investment. Furthermore, the management and maintenance of the installation are integrated into this solution*.
*The only project in which the PPA model wasn’t applied was the MaiaShopping, in Portugal, which was developed with an EPC model.
Ensuring health and safety on the construction site in an environment frequented daily by thousands of people, minimizing risks for workers, customers, operators, and center staff.
THE RESULTS
Supporting Sonae Sierra’s energy transition strategy
The partnership between Sonae Sierra and Greenvolt Next is already producing green energy at its shopping centers. Each rooftop system installed supports the company’s energy transition strategy, decreasing the use of fossil fuels and reducing operational emissions and the carbon footprint.
LOOKING AHEAD
An ongoing partnership
Greenvolt Next and Sonae Sierra are currently collaborating on the installation of the same type of system in two more shopping centers in Spain, which together have almost 1MWp of installed power. Additional projects are in scoping for both Spain and Portugal.
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