Growthpoint Properties, a leading real estate company, has inked a historic Power Purchase Agreement (PPA) with Etana Energy for an annual supply of 195 GWh of renewable energy. This amounts to 32% of Growthpoint’s total current annual electricity consumption, marking a significant stride towards sustainability.
In November 2023, Growthpoint entered into a PPA with Etana Energy, a licensed electricity trader, to facilitate the wheeling of electricity to its commercial properties across various jurisdictions. This groundbreaking deal represents the country’s first multi-jurisdiction, multi-building, multi-source renewable energy wheeling arrangement, enabling tenants to access green energy and reduce carbon emissions.
Under the agreement, Etana Energy will cover 70% of the power consumption of Growthpoint’s participating buildings, with the option for some buildings to offer tenants the opportunity to purchase 100% renewable energy for a more active role in carbon reduction.
The renewable energy mix includes predominantly wind, supplemented by hydro and large-scale solar electricity. This diverse combination ensures comprehensive coverage of Growthpoint’s energy needs throughout the day and night.