Romanian real estate group Iulius installs photovoltaic panels on all properties in its portfolio
The Iulius Group has installed photovoltaic panels on all properties in its portfolio, which will produce 5,500 MWh annually overall. The energy produced will be used for the group’s own consumption. The investment exceeds EUR 3.5 million.
"Iulius is the only real estate company on the Romanian market that implements an extensive project aimed at increasing energy autonomy through the installation of photovoltaic panels in all its developed and operated properties. The group manages the entire process, from design and equipment procurement to infrastructure installation and commissioning, which will later be connected to the internal distribution system," the company said in a press release cited by News.ro.
The total surface area of the photovoltaic panel project is 26,000 sqm, and they are installed on all eight properties in the portfolio.
All functions of the Iulius projects - mixed projects, malls, and office buildings - will benefit from the renewable energy generated by the new solution. It is estimated that they will provide approximately 10% of the total energy consumed at the group level, with the effect of eliminating 1,500 tons of CO2 per year, equivalent to a forest with over 20,000 trees.
“Iulius is the only real estate company in Romania that is making such a large-scale investment in all of its properties. Producing renewable energy for its own consumption is a goal that Iulius has committed to through its sustainability strategy, which confirms our concern for reducing our carbon footprint," said Robert Ghercă, Chief Technical Manager of Iulius.
Last year, Iulius announced a 16% reduction in greenhouse gas emissions compared to 2019, as well as a 33% efficiency improvement in water consumption across the group. The company also mentioned a 15% reduction in total energy consumption compared to 2019, as well as a 34% reduction in household waste volume.
Recently, Iulius entered into a partnership with IFC, a member of the World Bank Group, to develop a decarbonization strategy for the company's entire portfolio and achieve net-zero emissions. This partnership marks the first commitment of its kind in Romania.
The Iulius Group is present in four major cities in Romania - Iasi, Timisoara, Cluj-Napoca, and Suceava. Its portfolio includes over 310,000 sqm of leasable retail space in two mixed-use urban regeneration projects (Palas Iasi and Iulius Town Timisoara), a national network of regional shopping malls (Iulius Mall - Iasi, Cluj-Napoca, and Suceava), and the Family Market projects in Iasi (Miroslava and Bucium).
(Photo source: Iulius on Facebook)
