South African property group Equites (EQUJ.J) plans to increase its solar capacity as part of efforts to diversify its revenue, its Chief Operating Officer Riaan Gous said on Tuesday, a move which could help the firm become more environmentally friendly.
Energy-related products to provide additional revenueplans to increase its solar capacity as part of efforts to diversify its revenue, its Chief Operating Officer Riaan Gous said on Tuesday, a move which could help the firm become more environmentally friendly.
It comes in addition to the 9 megawatts announced in May, and will likely reduce the group's carbon emissions by about 20%, Gous said. To date, Equites has brought about three-quarters of the 9 megawatts announced in May online, which has reduced the company's carbon emissions by around 30% for the first half of its 2024 financial year, Gous said.
The company funds the installation of solar panels on its logistics sites and provides power to tenants at a discount to the tariff charged by the state utility, Gous added. It also gives tenants the option to install batteries at their own cost.
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