April 16, 2014 - Danica Pension and GreenGo Energy A/S have agreed on establishing the largest portfolio of PV plants in the Nordic countries with a total of 6 megawatts (MW). The project is the first part of a joint PV solution for Danica Pension's 16 shopping centers in Denmark.
In the first phase 2.4MW is realized on four major shopping centers. Kolding Shopping Center has just started operating with a capacity of 1.4MW. This PV plant is twice as large as the former largest PV plant in the Nordics.
In the next phase this spring a further 3.6MW will be established on 4 shopping centers, including City2.
The portfolio will at an overall level produce 5,650,000kWh annually at a total of 8 shopping ceenters and cover a large part of the common consumption in the centers.
"We are constantly working to optimize return on all our properties, including through energy retrofit. In cooperation with GreenGo Energy, we achieve a solution with good returns and significant energy benefits, to the benefit of our pension clients and the environment, says Property Director Peter Mering from Danica Pension, and continues:
"Our green investment represents a significant amount in millions of Danish kroner. PV plants have maximum production of electricity during the day. It is simultaneously also the time when there is most activity in shopping centers and maximum energy consumption, for example for ventilation and cooling. This is particularly true now that most shopping centers are open during Sundays, whereby electricity production can be fully exploited even on Sundays. Investments in PV plants for shopping centers therefore make very good sense from both an environmental and investment point of view. The goal is that we can achieve a CO2 reduction of up to 200,000 tonnes by looking at our entire property portfolio. "
It is GreenGo Energy A/S that stands for both the establishment and the overall operation and administration of the plants. Over 24,000 panels are installed on a total PV area of nearly 39,000m2.
Karsten Nielsen, CEO of GreenGo Energy A/S, mentions about the Danica portfolio agreement: "Danica Pension has been innovative and are first movers for this type of plant. There are significant economies of scale by looking at the entire portfolio as a joint solution, and it also helps to optimize the return for Danica, to the benefits of pension clients"
No subsidies or income losses for the state
One of the interesting elements of the solution to Danica's shopping centers is that it is a sustainable solution that does not require subsidies from the state or give income losses on electricity tax and related taxes for the state.
Karsten Nielsen, GreenGo Energy A/S, comments: "The solutions for Danica have been designed so that there is no surplus production to the grid. All power is consumed where it is produced and that is fundamentally healthy. It thus requires no support or subsidies from the state, and likewise there is no income loss on electricity tax and related taxes for the state." And continues: "Generally speaking we are now in a situation, where solar power with a GreenGo solution is significantly cheaper than offshore wind and within a few years we will be less expensive than onshore wind. The development can be decentralized and without governmental efforts, or income loss for the state. We think that is sustainable progress towards the government's 2040 targets. We hope politicians will see the great potential offered by solar technology on a larger scale with an innovative approach. Here we demonstrate that it can be done."