Solar Bay, a renewable energy fund, and ESR Australia, a real estate and investment company, have signed a $500 million deal to install 50MW of solar panels and 300MWh of battery storage in commercial warehouses by 2033. The goal of this partnership is to meet the growing energy needs of customers due to the introduction of electric automation and the increasing use of electric vehicles.
If successful, this partnership could result in a significant increase in solar installations on ESR properties across Australia, as well as complement ongoing developments with new solar projects. By implementing innovative electrification solutions such as integrated grids during the construction phase, ESR aims to maximize the penetration of renewable energy in its project portfolio and offer its customers access to 100% renewable energy at competitive prices.
Solar Bay has experience in the implementation of renewable energy projects. In 2021, the company announced plans for a 150MW (now 170MW) solar array near Christchurch Airport in New Zealand. Also in 2020, the company signed a 30-year partnership with Logos, an Asia-Pacific logistics company, to install 60MW of solar panels and 150MWh of battery storage at an industrial and warehouse site. Logos was acquired by the ESR Group in 2022.
