Etana to deliver clean power to Growthpoint buildings in S Africa

South African real estate trust Growthpoint Properties Limited (JSE:GRT) has sealed a deal to offtake 195 GWh of renewable energy annually, including wind and solar, from domestic clean electricity trader Etana Energy.

The power purchase agreement (PPA) will secure green power for Growthpoint’s commercial property buildings in several jurisdictions across the country, giving tenants access to renewable energy. The agreed volumes cover 32% of the total annual electricity consumption of 612 GWh reported in 2023.

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“This initiative significantly advances Growthpoint’s progress towards our climate commitment of being carbon neutral by 2050,” CEO Estienne de Klerk noted in a statement on Tuesday.

The contracted power will be sourced from wind, with a smaller component of hydro and large-scale solar capacities. For instance, it covers the entire 30-GWh output of a 5-MW hydroelectric power plant developed, owned and operated by Serengeti Energy, with which Growthpoint has a memorandum in place for a future investment.