Noval Property, aiming at continuously improving the energy efficiency of its properties, has recently completed the installation of a photovoltaic plant in Mare West retail park, Corinth. The main priority of the investment is to cover part of the retail park’s shared electricity requirements in the form of net metering.

The investment, which concerns the installation of a 200kW photovoltaic plant on the outdoor parking area, promotes the improvement of the building’s carbon footprint using Renewable Energy Sources. At the same time, tenants’ shared costs concerning energy consumption will be reduced, and the national electricity grid will be enriched with electricity produced from renewable sources. It is worth mentioning that Mare West is already the first certified retail park in Greece according to the internationally recognized environmental assessment, BREEAM In-Use Commercial v6.

Through its operations, it ensures the use of energy-efficient systems that contribute to the reduction of carbon emissions, while achieving optimal waste management and water savings as well as improving quality standards that have a positive impact on the wellbeing of employees and visitors of the retail park. Regarding the installation of the photovoltaic system, Giorgos Karapanagiotis, Chief Risk and Compliance Officer explained: “Sustainable development is a dynamic process for our company in which we seek the continuous upgrading of our operations and the continuous reduction of the environmental footprint of the buildings in our portfolio according to best practices.

Already 22% of our portfolio consists of certified buildings according to LEED or BREEAM. This percentage is expected to increase since the projects that are currently under development will be modern, bioclimatic buildings that will operate based on high energy efficiency standards and will achieve international sustainability certifications regarding their construction and operation”.

Noval Property is committed on implementing the principles of bioclimatic design to all of its projects, by integrating sustainable practices and techniques and considering the life cycle of each project. Sustainable development is a core component of Noval Property’s investment strategy and concerns the energy efficiency of its buildings and at the same time, relates to the entire spectrum of its activities, in terms of the environment, people, and society.