Sustainability is part of the Bulk DNA
Sustainability is a foundational part of Bulk’s business model. Starting in 2006, our focus on strategic location, optimised assets and local ecosystems been central in our development. Solar power production on our buildings is a natural continuation of our business development.
- We’ve investigated how to implement solar power production in our projects for several years. The roofs and fasades of our buildings have been an unused resource. These are advantageous surfaces for the production of green energy both to the building itself and for export to the energy grid. The challenge has been to find economically sustainable business models that take into account investment, maintainance and competetive electricity prices. And that incorporates. fdd between us the owner and our tenants, says Rune Bang, Vice President Projects Bulk Industrial Real Estate.
- Solar power production systems have become increasingly more accessible to use. At the same time, several companies have established themselves in recent years in the market, that offer solutions for planning, investment and operation of the same facilities, explains Bang.
1,5 million kWh of solar power produced in 2022
From our industrial buildings, we were able to produce 1,5 million kWh (kilo watt hours) of solar power in 2022. The total installed capacity reached above 3.300 kWp (kilo watt peak). This production resulted in approximately 16 percent of the total electricity consumption in our real estate portfolio. Keeping in mind that most of our solar power facilities were only operational in 2022, and that we have planned more facilities, this production will only increase. We expect a doubling of kilo watt hours produced in 2023.
With the different solutions we can offer through our partners we will be able to cover between 20-60 percent of a building’s total energy consumption through solar power.
- On all of our new industrial buildings tenants have the offer of different business models for the production and purchase of solar power. Bulk will always seek to maximise our solar power facilities and make sure that our property portfolio’s energy consumption will be covered by green energy sources in a greater degree. In those cases were we hav surplus production, the energy will be exported to the grid. Making a contribution to increasing the renewable share of the wider energy grid, Bang explains further.
On existing industrial buildings, we’ve initiated studies into how we can implement solar panel on older constructions. These buildings have older standard for dimensions, and are not built to accomodate the extra weight on the roof, but we are hopeful we’ll find a successful solution.
New innovative partners
Soleie AS was one of the first companies in Norway that could offer a complete buisness model for solar power facilities on industrial buildings. Soleie is owned 50-50 by Akershus Energy and Østfold Energy, both energy producers in Norway. Bulk Industrial Real Estate has had a close partnership with Akershus Energy over the years as an investor in several of our projects. When Soleie was established in 2020, it was therefore logical that we explore the possibility of a cooperative partnership. This resulted in our first solar power facility on the Leman-building in Bulk Park Vestby. The facility was operational in september 2021 and was later expanded in 2022. Over the course of 2022 Soleie constructed two more facilities on our industrial buildings.
- Soleie has been an important partner for Bulk. Together with Soleie, we’ve been able to establish our first solar power facility with an economically sustainable model for both Bulk as property owner and for our tenants, Rune Bang says.
Sunday Power is a relatively new, but equally exciting partnership that was initiated in 2022. As with Soleie AS, Sunday Power also offers a complete solution for solar power where they take responsibility for planning, investment and operations. Sunday Power delivered the first Bulk solar power facility towards the end of 2022 (the Kjellmann-building as seen represented in this article).
- Sunday Power have an exciting technological approach to solar production. They have business models that enable maximum utilization of our roof surfaces for solar energy production, which provides significant added value for Bulk as property owner, our tenants and for the environment, says Bang.
The energy market and commercial solutions for solar production are in continuous development. Bulk Industrial Real Estate and our partners are constantly on the lookout for the best solutions with the goal of producing as much solar power as possible within our projects. Bulk are looking into development initiatives with both existing and new partners when it comes to the development of new technology such as battery energy storage solutions and use of intelligence management in energy production.
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