German landlord Vonovia to install solar panels on 30,000 roofs by 2050

Vonovia SE (ETR:VNA) is planning to equip about 30,000 roofs of buildings from its portfolio with solar panels by 2050 as Germany's largest residential company is seeking to achieve climate neutrality for all its properties.

The company aims to raise its annual installation capacity ten times to 25 MWp within the next three years and set up solar panels on 17,000 roofs by 2030, it said on Monday. The installations are expected to generate 194 million kWh of green electricity, saving 76,500 tonnes of carbon emissions annually. This will require the investment of some EUR 240 million (USD 281.7m).

The electricity from the rooftop systems will be used by the tenants of the buildings, for the charging of electric vehicles and for heat generation.

"We are committed to climate protection and are working hard to ensure climate neutrality for all our existing buildings. To do so, it’s vital that we use renewable energies,” said chief executive Rolf Buch.

The Bochum-based landlord has put solar systems on over 1,000 roofs since 2018 which produce more than 15 million kWh in electricity. The 1,000 Roofs programme cost about EUR 16 million. The company's headquarters are also powered by a rooftop installation.

(EUR 1 = USD 1.174)

Choose your newsletter by Renewables Now. Join for free!