Castellum, one of the largest listed property companies in the Nordic region, has reached its target of installing at least 100 PV systems as part of its solar panel program “100 on Solar” by the end of 2025. This solar power initiative will now continue, with the installation of a further 100 PV systems by 2030.
Castellum is utilizing its solar power initiative to achieve its sustainability goals and provide protection against higher electricity costs.
Castellum has achieved a margin return of 8 to 10 percent from investments in solar panels.
“Alongside battery piles on site, these properties can go from being passive energy sinks to active power resources that can ease the stress on the overburdened national electricity grid,” says Joacim Sjoberg, Chief Executive Officer of Castellum.
Castellum has 111 solar PV systems in its property portfolio, which generate approximately 20 GWh per year, corresponding to 19 percent of all the electricity that the company purchases each year. The largest PV system has an area of 30,000 square metres and generates 3.3 GWh per year, which corresponds to the annual electricity needs of 660 standard houses.
“We are also hard at work on enhancing energy efficiency in our properties, with the target of reducing energy use by 2.5 percent per year from a level that is already 50 percent below the industry average in Sweden,” says Filip Elland, Chief Sustainability Officer of Castellum.