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Regional REIT to install solar panels on offices

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Regional REIT has entered into a joint venture with leading pan-European solar panel developer, Sunbird Solar International, to install solar panels on a number of properties within the company’s portfolio.

Phase one of the installation programme will encompass 19 properties with an aggregate portfolio generation capacity of 4,173 kW and is expected to be completed within a year. Regional REIT will invest alongside Sunbird in the joint venture company called Sugarbird SolarCo (UK) Limited.

The joint venture will enhance the EPC credentials of the respective buildings, supplement and provide on-site green electricity to common parts and continue the ongoing momentum of reducing CO2 emissions by some 713 tonnes across the portfolio.

The annual solar electricity output of this first phase is equivalent to reducing the electricity usage of 1,270 average UK households.

Sunbird is a leading pan-European solar PV developer led by an experienced team of commercial and industrial solar specialists with decades of experience in developing, financing, designing, constructing, and maintaining solar and battery energy storage assets.

Stephen Inglis, head of Regional REIT’s asset manager, commented: “We are delighted to be working with Sunbird on this important programme that reflects the company’s significant ambition to deliver meaningful environmental enhancements. This important programme will reduce our portfolio’s carbon footprint and enable the properties to benefit from both lower maintenance and energy costs.”

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