Richmond Marketplace and its retailers are set to benefit from the installation of 300 high-tech solar PV panels across 3,300 square metres of roof space.
Richmond Markeplace is owned by ISPT and the company is investing $11.6 million to install solar panels across its national network of shopping centres.
ISPT says the solar installation will improve the sustainability credentials of Richmond Marketplace while providing lower power bills and greater energy security for retailers and businesses within the building.
The solar PV installation is set to generate 510,000 kilowatt hours of electricity during the next year.
Since the installation at Richmond Marketplace, ISPT has begun to on-sell energy to its customers, while also providing base building power.
Richmond Marketplace Centre Manager, Joe Pinterovic, said, "As an ISPT property, we are proud to launch this new solar initiative and are excited about the opportunity it presents. The Solar PV installation is not only helping retailers and businesses operating in our centre to benefit from lower outgoings, but also supporting them in their own sustainability initiatives and goals."
Alicia Maynard, ISPT's General Manager, Sustainability and Technical Services, said the national solar PV project is a signature program within the company's broader Environmental Social and Governance (ESG) strategy.
"Over the past two years we've invested $12.8 million in 95,000 square metres of rooftop solar PV panels across 22 properties, set to generate $30 million in cost savings over their lifetime," Ms Maynard said.
"This is because we're focused on creating positive impact for the 50 per cent of working Australians we represent, and working to bring our retail centres like Richmond Marketplace to drive towards a low-carbon future."
