Summus Capital Installs 159 Solar Panels at Commercial Property to Promote Sustainability

15:01 24.04.2023

Summus Capital, a prominent real estate investment holding group in the Baltics, has taken another step towards promoting sustainability by installing 159 solar panels at Veerenni Tervisekeskus, one of its commercial properties. The solar installation has a total capacity of 64.395 KW.

The installation of solar panels at Veerenni Tervisekeskus is in line with Summus Capital’s commitment to following Environmental, Social, and Governance (ESG) regulations and incorporating sustainable practices into its operations. The solar panel installation is expected to reduce the building’s carbon footprint and dependence on fossil fuels for electricity.

To ensure compliance with ESG regulations and best practices, Summus Capital has outsourced real estate management services from Green Formula Capital, a reputable sustainability consulting firm. Green Formula Capital provided valuable insights and recommendations on the implementation of the solar panel installation, ensuring that it aligns with Summus Capital’s sustainability goals and ESG principles.

“We are proud to have installed 159 solar panels at Veerenni Tervisekeskus as part of our ongoing efforts to create more sustainable properties,” said Mr Hannes Pihl, Investment Manager of Summus Capital. “We believe that responsible real estate investment involves not only maximizing financial returns but also minimizing our environmental impact. We are grateful for the expertise and guidance provided by Green Formula Capital, which has helped us achieve this milestone.”

The solar panel installation is expected to generate clean energy, reduce greenhouse gas emissions, and lower operating costs over the long term. Summus Capital remains committed to finding innovative ways to incorporate sustainable practices into its real estate portfolio, in line with ESG regulations and global sustainability goals. This year, Summus Capital plans to focus on reducing energy consumption and analysing the possible opportunities and targets connected to it.

“At Summus Capital, we strongly believe that managing our business sustainably is not only the responsible thing to do, but also the best way to increase the value of our assets for investors, tenants, and employees. Our focus is not just on acquiring “green assets,” but also on transforming existing, inefficient buildings into modern, high-quality, and sustainable flagship assets. This approach not only reduces our ecological footprint but also helps us achieve high rankings for sustainability certification and access potential green financing. We are convinced that those who prioritize social responsibility, environmental impact, and governance will be the long-term winners, compared to those who do not,” said Pihl.