Greenman OPEN, one of the largest food retail-focused investment funds in Germany, is planning to invest €32 million ($32.6 million) to install solar photovoltaic (PV) panels on the roofs of its retail centers in the country by 2027.
OPEN estimates the panels, once operational, will generate 27 gigawatt-hours of electricity per year, enough to power 16,000 households.
An agreement has been signed with G+H solar to begin the first phase of the plan, with the installation of panels on OPEN’s flagship Mahlsdorfer Märkte retail center in Berlin.
The initiative is part of OPEN’s strategy to become carbon-neutral by 2040. The fund already produces around 350,000 kilowatt-hours of electricity from 2 percent of its usable roof space.
“Our ambition to generate renewable energy is particularly relevant in Germany where the state is in the process of phasing out nuclear energy and energy prices are coming under considerable inflationary pressure,” said Jo