17 July 2019

Hibernia looks to the future with rooftop solar array

Board/Management Changes

Hibernia REIT plc ("Hibernia" or the "Company") has worked with leading design, manufacturing and installation firms to add 44 solar panels to the roof of 1 Windmill Lane ("1WML") in Dublin's South Docks. The addition of the photovoltaic ("PV") system is the latest step in Hibernia’s long-running commitment to sustainability.

The system, which has an expected life of 25 years, was installed by Eco Systems Direct with panels supplied by Kingspan and the project was overseen by design firm BDP. 1WML is already a highly efficient building, achieving LEED Gold certification upon its completion in 2017, and this system will further reduce its environmental impact as well as benefitting both tenants and Hibernia.

  • The system is expected to generate over 12,000 kWh of electricity each year and enough power at peak output to offset all of the energy used to light the communal areas of the building
  • The lighting bill for 1WML is expected to be reduced by up to 50% (based on typical annual office hours 8am-6pm)
  • The carbon dioxide displaced by the PV system over its lifetime is expected to be equivalent to saving 2,000 trees

The installation comes as the Government has announced its Climate Action Plan to Tackle Climate Breakdown. The new plan includes measures to generate electricity from renewable sources, of which installations like the one now operational at 1WML will be key. Hibernia is actively looking at other sites in its portfolio where similar systems could be installed, further reducing its environmental impact.

John Cairns, Asset Manager with Hibernia, said:

"We design our buildings with sustainability in mind but that doesn’t stop once construction is completed and our tenants move in. The installation of solar panels on the roof of 1WML will further reduce the building's environmental impact and benefit our tenants and we are assessing other properties in our portfolio for similar schemes."

Patrick Kavanagh from BDP Ireland said:

"For over two years we have been working with Hibernia to reduce their existing portfolio's carbon footprint through a wide range of measures from replacing plant and improving control strategies to the installation of on-site renewables like this solar project in 1WML. Sustainability is an area of growing importance and it is good to see Hibernia taking a leadership role."

ENDS

Contacts:
Murray Consultants
Doug Keatinge: +353 86 037 4163, [email protected]
Jill Farrelly: +353 87 738 6608, [email protected]
Andrew Smith: +353 87 643 7693, [email protected]

About Hibernia REIT plc
Hibernia REIT plc is an Irish Real Estate Investment Trust ("REIT"), listed on Euronext Dublin and the London Stock Exchange. Hibernia owns and develops property and specialises in Dublin city centre offices.