IMMOFINANZ with innovative partnership for 100% green energy
IMMOFINANZ is setting another milestone for the implementation of its ESG strategy and will supply the entire Austrian portfolio with 100% green energy in the long term. With an innovative partnership with Stockenboi Energie and ENERGIEALLIANZ Austria, the company secures the supply of all 23 standing investments, covering 234,373 sqm, of its office and retail portfolio with electricity from photovoltaic systems and hydroelectric power from Austria.
This strategic partnership with Stockenboi Energie and ENERGIEALLIANZ Austria is in alignment with the company’s ESG goals, in particular in the area of energy procurement. The measures enable IMMOFINANZ to cover its entire energy requirements for the Austrian portfolio, which total approximately 19 GWh/year, from renewable sources in the long term, above all by using solar energy from its own PV systems and hydroelectric power from Austria. The advanced approach to energy procurement underscores the company’s commitment to sustainable and future-proof energy supply. At the same time, IMMOFINANZ will be able to reduce its dependence on the electricity forward market and therefore provide for pricing and budget stability.
“We have been supplying our Austrian portfolio with green energy for several years now. With the partnership with Stockenboi Energie and ENERGIEALLIANZ Austria, we are now taking another important step towards achieving our ESG goals. It enables us in an innovative way to supply our entire Austrian portfolio with 100% green electricity from Austria in the long term, regardless of developments in the energy markets. IMMOFINANZ thus actively pursues its commitment to sustainability, and contributes to protecting our environment this way,” says Radka Doehring, member of the Executive Board of IMMOFINANZ.
IMMOFINANZ has concluded a power purchase agreement (PPA) with Stockenboi Energie, a small hydropower plant operator in Austria, for this purpose. The PPA comprises a supply quantity of approximately 6 GWh/year. The electricity comes from a 100% renewable energy production source in Austria and ensures predictability over the entire term of the contract for both contractual parties due to the fixed terms and conditions.
Christoph Aste, Managing Director of Stockenboi Energie: “The partnership with IMMOFINANZ ensures predictability for the hydropower plant for many years. Based on the collaboration, we can expand our capacity while at the same time strengthening the sustained engagement and use of local natural resources. The natural power from Lake Weissensee in Carinthia is 100% renewable and ecologically tested. In addition, we also support extensive nature conservation and the protection of species. Along with fish ladders, a fish sanctuary for dry periods and hatcheries for dippers, high residual water flow ensures a continuous stream flow in the diverted reach. We are pleased to have found a long-term and highly renowned partner for our plant in IMMOFINANZ.”
In addition, IMMOFINANZ has concluded an energy supply contract and associated portfolio management with ENERGIEALLIANZ Austria in order to ensure the best possible integration of the PPA and its own photovoltaic production of currently about 2 GWh/year within the portfolio. ENERGIEALLIANZ Austria is one of the first energy providers in Austria to conclude innovative PPAs. Establishing a virtual power plant enables the targeted use of the PPA resources and PV surpluses in the entire Austrian portfolio, optimising electricity demand and production at the portfolio level.
“The interest in renewable energy is steadily growing among our customers. Trusting communication and transparency in business relationships are crucial to successful PPA innovations. True to our motto: Energy transition now – together with our customers,” says Karl Borowy, Sales Manager at ENERGIEALLIANZ Austria.
“With our PPA model, we enable IMMOFINANZ to source green electricity from renewable energy in Austria and distribute it directly to its locations,” adds Christian Grafendorfer, Head of Portfolio Management at ENERGIEALLIANZ Austria.
Photo credit: Edina Lakatos (Immofinanz)
Photo: left to right, Isabella Ecker (Immofinanz), Johann Rumpf (builder; Managing Director of Rumpf Holding GmbH, a shareholder of Stockenboi Energie GmbH), Wolfgang Arnberger (Immofinanz), Fabian Ruckelshausen (Immofinanz), Jörg Kerschbaumer (Mayor of the municipality of Stockenboi), Christoph Aste (Managing Director of Stockenboi Energie GmbH), Markus Ressi (1st Deputy Mayor of the municipality of Stockenboi)
