The property management division of Hamburg-based HIH believes it is on track to save an average of 2,161 tonnes of CO2 emissions per year after awarding a new energy contract to E.ON Energie Deutschland.
It will lead to cost savings as well as being healthier for the environment.
HIH Property Management (HIH PM), which manages 419 buildings, commissioned advisor Argentus to run a tender process for a gas supplier to the portfolio.
The new contract began last month, and HIH PM believes carbon emissions will be cut by an average of 2,161 tonnes per year and by a total of 10,805 tonnes between 2020 and 2024, equating to cost savings of €577,000 by 2024 compared to the previous gas supply arrangement.
‘Together with Argentus we began a nationwide tendering process for a part of our portfolio to secure the same supplier for all properties,’ said Christian Kyple, member of the board of HIH PM. ‘By pooling the tender we were able to achieve some major cost savings as a bulk buyer, despite the expense of carbon-neutral natural gas.’
A contract with energy supplier Lichtblick was also extended until the end of 2022, and the number of properties supplied with green electricity increased by 152 to 405. Last year, the majority of the portfolio switched to green electricity.
HIH PM is part of HIH, whose investment management business comprises €8.1 bn of assets in Germany
