Eskom Partnership Boosts Renewable Energy in Commercial Properties.
(The Post News)- A revolutionary alliance between Old Mutual Real Estate Holding Company (OMREHC) and NOA Group Trading is expected to transform the commercial property sector’s energy landscape. Over 90% of OMREHC’s diverse property portfolio will be powered by renewable energy thanks to the deal, which was made possible by Eskom.
Sustainability and alternative energy sources are key components of OMREHC’s strategy, according to CEO Sakina Nosarka. “This partnership aligns with our commitment to climate-conscious practices, supporting a sustainable future amidst South Africa’s energy challenges.” With this customized solution of combined solar PV and wind energy, the company hopes to lower energy costs and decarbonize the environment.
Beginning in 2026, the 10-year agreement will give stakeholders continuous access to renewable energy while promoting greater energy security. With this project, OMREHC completes its first wheeling transaction, opening the door for additional rollouts throughout their R27 billion portfolio.
Karel Cornelissen, CEO of NOA, highlighted the importance of the agreement, saying that energy-intensive properties can use innovative technologies to achieve virtually 100% penetration of renewable energy. In order to give businesses connected to municipalities access to renewable energy, NOA is investigating virtual wheeling, which is expected to debut in 2025.
The property industry is a crucial development area for energy traders and aggregators, accounting for more than 80% renewable energy penetration. NOA’s flexible contract structure enables clients to carry out their decarbonization aims while saving money. As a prominent aggregator, NOA purchases electrons from Independent Power Producers, resulting in faster and more efficient renewable energy supply.
This alliance benefits from municipalities such as Cape Town and Ekurhuleni boosting wheeling initiatives, allowing NOA and OMREHC to broaden their collaboration. “Through this initiative, we ensure our properties provide uninterrupted experiences while contributing positively to energy security,” says Nosarka.
The agreement establishes a precedent for commercial properties to embrace renewable energy, reduce carbon footprints, and ensure a sustainable future. By assisting South Africa’s energy security and decarbonization efforts, OMREHC and NOA are setting the standard for ecologically responsible business practices.
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