Private equity news australia ESR and Solar Bay announce a $500mil plan to turn warehouse rooftops solar

ESR and Solar Bay announce a $500mil plan to turn warehouse rooftops solar

ESR and Solar Bay have announced a $500 million plan to turn hundreds of hectares of rooftop warehouse space into solar farms.

The project, which is expected to be completed over the next decade, could generate 50 megawatts of solar power and 300 megawatt hours of battery storage. This would be enough to power around 20,000 homes and businesses.

The project is part of ESR’s broader sustainability strategy, which aims to make its properties more energy efficient and reduce its carbon footprint. The company has already installed solar panels on some of its warehouses, and this new project is a significant step up in scale.

nuno marques GbrjLvZF unsplash

Photo by Nuno Marques

The project is also expected to create jobs and boost the local economy. Solar Bay estimates that it will create around 1,000 jobs during the construction phase, and that it will generate around $100 million in economic activity each year once it is completed.

The project has been welcomed by businesses and environmental groups. The Australian Chamber of Commerce and Industry said it was a “welcome step” towards reducing Australia’s reliance on fossil fuels.

The Australian Conservation Foundation said it was “a major investment in renewable energy” and that it would “help to create a cleaner, more sustainable future”.

The project is still in the early stages, but it has the potential to be a major milestone in Australia’s transition to clean energy. It is a significant investment in rooftop solar, which is a rapidly growing segment of the solar market.

The project could also help to pave the way for other large-scale rooftop solar projects in the future.

Here are some of the benefits of this project:

  • It will reduce industrial energy bills by half.
  • It will create jobs and boost the local economy.
  • It will help to reduce Australia’s reliance on fossil fuels.
  • It will contribute to a cleaner, more sustainable future.

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