International energy specialist Westbridge Advisory has optimised the energy procurement for the Benelux portfolio of real estate investment manager Union Investment.
The tenders for the supply of electricity and natural gas cover a total of twelve assets in Belgium, Luxembourg and the Netherlands. Westbridge said it was able to significantly reduce the ecological footprint of the 146,000 m2 portfolio, bringing savings of 8,000 tonnes of CO2 in the next three years.
Around 3,400 tonnes will be saved from the Dutch portfolio, around 2,700 tonnes in Luxembourg and 1,900 tonnes across Belgium.
Union Investment’s Belgian real estate portfolio included in this project comprises two properties in Brussels. Together, they consume 617 megawatt hours of electricity per year. Both office buildings will only use green electricity and CO2-neutral natural gas going forward.
Across the four Dutch properties, new energy contracts supplying green electricity will bring consumption down to 6.2 gigawatt hours and 243,000 m3 of CO2-neutral natural gas. The assets are distributed among the cities of Amsterdam, Eindhoven and Rotterdam.
For the sub-portfolio in Luxembourg, only the electricity supply contracts for a total of six buildings were optimised. As in Belgium and in the Netherlands, the entire annual energy consumption of the Luxembourg portfolio of around 4.5 gigawatt hours will also be supplied with green electricity.
Hajo Engelke, managing director at Westbridge Advisory said: 'We already switched Union Investment’s real estate portfolios in Austria, France, Poland, Sweden and the UK to supply from sustainable energy sources and consistently continue our joint path.
'The decision to expand the successful cooperation into further countries makes us proud and speaks for the high quality that we have delivered to Union Investment so far.'
