PATRIZIA Immobilien AG has announced that its entire real estate portfolio in Germany — residential and commercial assets with a volume of €14 billion ($17 billion) — has been converted to run on renewable energy sources.
This initiative, which is part of PATRIZIA’s strategy to create a climate-neutral real estate portfolio, is expected to reduce environmentally harmful carbon dioxide emissions by 26,000 tonnes and lower energy costs by around €1 million ($1.2 million) each year.
“We are proud to be able to make an active contribution to climate protection,” said Jörg Müller, head of steering service provider at PATRIZIA. “As a result, tenants will benefit from significantly lower operating costs while the owners will profit from the improved efficiency of these properties.”
Over the last six months, some 1,300 electricity and 240 natural gas meters were analyzed across approximately 700 residential and commercial properties, in cooperation w