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Super fund investor rolls out solar on Canberra office buildings

7 London Circuit.jpg

Superannuation fund property investor ISPT has begun rolling out rooftop solar installations in a program that will extend to as many as 59 office and retail properties in its $12 billion portfolio.

In the first stage, ISPT is installing solar panels above 13 major buildings, in arrays totalling 13,000 square metres including completed installations at 7 London Circuit and 18 Marcus Clarke Street in Canberra.

ISPT's move comes as the roll-out rate for solar panels across the nation's rooftops has almost doubled over the past year as more commercial property landlords embrace the business case.

The $1.2 million investment in the first stage of the four-stage project is forecast to produce a full return on investment in 3.5 years.

"We conceived this project in 2016 following a national review of our key property assets in terms of the opportunity to install rooftop solar PV panels," said Alicia Maynard, ISPT's general manager for sustainability and technical services.

"We found the opportunity was immense, so a wide-scale rollout made sense.

"It means our customers and tenants benefit from lower power bills and greater energy security, and for ISPT it helps future-proof the assets in our portfolio."

"The solar PV rollout is about positioning our portfolio to be at the forefront of the move to clean energy, taking an industry-leading position that will deliver value for our tenants, dividends for our investors and better solutions for our environment," said chief executive Daryl Browning.

Source: Australian Financial Review

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