Wed. Oct 4th, 2023
    CTP Secures €200 Million Financing from the European Investment Bank for Solar Panel Installation

    CTP, Europe’s largest developer, owner, and manager of industrial and logistics properties, has obtained €200 million in financing from the European Investment Bank (EIB) to support its ambitious solar panel installation program across its European business park portfolio. The 10-year unsecured loan will contribute to accelerating the energy transition, strengthening power supply security, and promoting climate action and economic cohesion.

    Under the REPowerEU plan, which aims to end Europe’s dependence on fossil-fuel imports, the EIB is providing this financing at favorable terms, with a fixed cost of 4.5%. CTP, with a 10.9 million sqm gross lettable area in Central and Eastern Europe (CEE) and a growing presence in Western Europe, targets significant growth in renewable energy generation. To oversee its solar PV installation program, CTP has established its own energy company.

    CTP has ensured that all its industrial and logistics buildings have been “solar ready” since 2020. By the end of 2022, the company had already installed 38MWp of solar PV capacity on roofs, with plans to add an additional 100MWp in 2023. With the support of the EIB financing, CTP aims to reach 400MWp by 2026. For buildings where on-site renewable energy is not currently available, CTP partners with energy suppliers to provide clients with 100% renewable energy.

    In addition to its solar ambitions, CTP plans to nearly double its portfolio to 20 million sqm by the end of the decade. The company also envisions creating energy-independent industrial parks, where all on-site energy is generated within the park and surplus energy is supplied to neighboring communities. This approach will reduce occupancy costs for CTP’s clients, contribute to a resilient energy grid, and lower carbon footprints.

    CTP’s Group Chief Financial Officer, Richard Wilkinson, expressed the significance of the EIB’s support and the company’s commitment to sustainable financing. CTP’s Chief Operating Officer, Peter Ceresnik, highlighted the opportunity to maximize the solar potential of their portfolio and achieve their vision for energy-positive parks. EIB Vice-President Lilyana Pavlova emphasized the importance of transitioning away from fossil fuels, reducing energy imports, and lowering electricity prices in Central and Eastern Europe.

    CTP’s financing milestone comes shortly after the publication of its first Sustainability Report, which showcases the company’s progress in meeting ESG commitments and aligning with EU Taxonomy requirements. CTP has long been a leader in sustainable industrial and logistics buildings, as demonstrated by its BREEAM certifications and commitment to energy efficiency. The company’s ESG Strategy centers on climate positivity, community engagement, social impact, and responsible business practices. CTP has received a ‘Low-Risk’ ESG rating from Sustainalytics and is included in the AEX ESG index.

    The European Investment Bank (EIB) is the long-term financing institution of the European Union, committed to funding investments that contribute to EU policy goals. The EIB has made climate investment a priority, and its lending is focused on climate and environmental sustainability projects, as well as projects in cohesion regions to promote equitable growth.

    – CTP (Corporate Website):
    – EIB (Official Website): [Website URL]