Creating better assets creates value for real estate stakeholders

Following the successful rollout of PATRIZIA’s green energy programme in Italy earlier this year, now over 70% of assets held and operated by PATRIZIA run on renewable energy.

The news builds on PATRIZIA’s sustained efforts in recent years to create better assets that are more sustainable for both society and the environment.

“As a forward-thinking partner who wants to create value for our tenants and institutional clients, quite simply: creating green energy contracts creates better assets,” said Joerg Mueller, head of asset operations excellence at PATRIZIA, who leads the project. 

“Now, with over 70% of our PATRIZIA operated assets using renewable energy, we’re saving more than 50,000 tons of CO2 a year. That equates to savings of 220,000 tons of CO2 and around EUR 3.4 million by 2025 as a result of our green energy programme.” 

The programme started in Germany and the Netherlands, where all of PATRIZIA’s spaces use green energy and where tenants can access sustainably energy on a voluntary basis.  

France followed in March last year, with 100% of PATRIZIA’s spaces now operating using green energy. Denmark, meanwhile, made the switch in September, joining Sweden where both PATRIZIA and tenant space run on sustainably sourced energy. 

The programme in Italy involved analysing the energy contracts in place across a portfolio of eight assets in addition to PATRIZIA’s own office in Milan.  

We’re saving more than 50,000 tons of CO2 a year. That equates to savings of 220,000 tons of CO2 and around EUR 3.4 million by 2025.

At the start of the project the buildings in Italy were being serviced by a total of six electricity suppliers, which varied in terms of cost and whether the energy came from renewable energy sources.

Now, the entire portfolio has been transferred to a single green energy supplier, which should save 1,762 tons of CO2 emissions every year.

However, PATRIZIA will not stop at Italy. An optimisation of energy supplier contracts will take place in Spain, Poland and Portugal later this year and it is anticipated that the exercise will yield similarly positive results.