REG - Regional REIT Ltd - Solar Panel JV with Sunbird Solar

Regional REITAnnouncement

28/10/2024 07:00

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RNS Number : 7456J  Regional REIT Limited  28 October 2024

28 October 2024

REGIONAL REIT Limited

("Regional REIT", the "Group" or the "Company")

Solar Panel JV with Sunbird Solar

 

Regional REIT Limited (LSE: RGL), the regional property specialist, is
delighted to announce that it has entered into a joint venture with leading
Pan-European solar PV developer, Sunbird Solar International Limited
("Sunbird"), to install solar panels on a number of the most suitable
properties within the Company's portfolio, making the properties more
attractive to potential tenants.

 

Phase one of the installation programme will encompass 19 properties with an
aggregate portfolio generation capacity of 4,173 kW and is expected to be
completed within a year. Regional REIT will invest alongside Sunbird in the
joint venture company called Sugarbird SolarCo (UK) Limited.

 

The joint venture will enhance the EPC credentials of the respective
buildings, supplement and provide on-site green electricity to common parts
and continue the ongoing momentum of reducing CO2 emissions by some 713 tonnes
across the portfolio.

 

The annual solar electricity output of this first phase is equivalent to
reducing the electricity usage of 1,270 average UK households, further
demonstrating our commitment to long term sustainability that will deliver
real impact at scale.

 

Sunbird is a leading Pan-European solar PV developer led by an experienced
team of Commercial and Industrial solar specialists with decades of experience
in developing, financing, designing, constructing, and maintaining solar and
battery energy storage assets.

 

Stephen Inglis, Head of ESR Europe LSPIM, Asset Manager commented:

"We are delighted to be working with Sunbird on this important programme that
reflects the Company's significant ambition to deliver meaningful
environmental enhancements. This important programme will reduce our
portfolio's carbon footprint and enable the properties to benefit from both
lower maintenance and energy costs."

Dave Colley, Director at Sunbird, commented:

"We're really pleased to be working with Regional REIT on this exciting joint
venture of improving the energy efficiency of the portfolio to the benefit of
the properties, to the other stakeholders and the benefit of the environment.

Sunbird is able to bring its global experience in developing, engineering,
installing and managing rooftop solar plants that are built to the highest
standards to deliver green electricity for decades to come."

 

 

 

- ENDS -

 

Enquiries:

 

 Regional REIT Limited
 Press enquiries through Burson Buchanan

 ESR Europe Private Markets Limited                         Tel: +44 (0) 203 831 9776
 Investment Adviser to the Group
 Adam Dickinson, Investor Relations, Regional REIT Limited

 ESR Europe LSPIM Limited                                   Tel: +44 (0) 141 248 4155
 Asset Manager to the Group
 Stephen Inglis

 Burson Buchanan Communications                             Tel: +44 (0) 20 7466 5000
 Financial Communications
 Charles Ryland, Henry Wilson, Samuel Adams

 

About Regional REIT

Regional REIT Limited ("Regional REIT" or the "Company") and its
subsidiaries (the "Group") is a United Kingdom ("UK") based real estate
investment trust that launched in November 2015. It is managed by ESR Europe
LSPIM Limited, the Asset Manager, and ESR Europe Private Markets Limited, the
Investment Adviser.

 

Regional REIT's commercial property portfolio is comprised wholly of income
producing UK assets and comprises, predominantly of offices located in the
regional centres outside of the M25 motorway. The portfolio is geographically
diversified, with 132 properties, 1,305 units and 832 tenants as at 30 June
2024, with a valuation of c.£647.9m.

 

Regional REIT pursues its investment objective by investing in, actively
managing and disposing of regional Core and Core Plus Property assets. It aims
to deliver an attractive total return to its Shareholders, targeting greater
than 10% per annum, with a strong focus on income supported by additional
capital growth prospects.

 

The Company's shares were admitted to the Official List of
the UK's Financial Conduct Authority and to trading on the London Stock
Exchange on 6 November 2015. For more information, please visit the Group's
website at www.regionalreit.com (http://www.regionalreit.com/) .

 

ESMA Legal Entity Identifier ("LEI"): 549300D8G4NKLRIKBX73

 

 

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