“This solar power initiative means that we can both achieve our sustainability goals and provide protection against higher electricity costs. To date, our investments in solar panels have been very profitable, with a margin return of 8 to 10 per cent. Alongside battery piles on site, these properties can go from being passive energy sinks to active power resources that can ease the stress on the overburdened national electricity grid,” says Joacim Sjöberg, Chief Executive Officer of Castellum AB.

Castellum currently has 111 solar PV systems in its property portfolio, which generate approximately 20 GWh per year, corresponding to 19 percent of all the electricity that the company purchases each year. The largest PV system has an area of 30,000 square metres and generates 3.3 GWh per year, which corresponds to the annual electricity needs of 660 standard houses.

“We consider the production of solar power as a tangible way of contributing to the green transition that society needs in order to fulfil the Paris Agreement and the 2°C target while providing our operations with renewable energy. We are also hard at work on enhancing energy efficiency in our properties, with the target of reducing energy use by 2.5 per cent per year from a level that is already 50 per cent below the industry average in Sweden,” says Filip Elland, Chief Sustainability Officer, Castellum AB.

For more information please contact:
Joacim Sjöberg, Chief Executive Officer, Castellum AB, +46 8 503 052 00
Filip Elland, Chief Sustainability Officer Castellum AB, +46 (0)70 320 63 26