Environmental & Social Information • Feb 3, 2011
Environmental & Social Information
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Aalst, 3 February 2011 - MONTEA (NYSE Euronext/MONT/MONTP) has launched a solar energy project for its sites in Grimbergen, Puurs, Bornem and Herentals. With the help of Encon and Scheuten Solar, Montea will install solar panels during the following months for an estimated total capacity of 2.35 MegaWatt Peak, or the average annual consumption of electricity of more than 650 households. Montea's investment will reduce $CO2$ emissions of the buildings by more than 600 tons/year. The generated energy will primarily be available to its tenants and the energy in excess will be sold to the distribution network.
In the spring Montea will start installing solar panels on the roofs of its sites in Grimbergen, Puurs, Bornem and Herentals. Montea signed an agreement with Scheuten Solar for the installation of the solar panels. The project will be supervised by Encon, specialist in sustainable energy projects.
Montea had already leased the roofs of its sites in Aalst and Mechelen for the installation of solar panels. Now, Montea has opted to invest itself in the development of solar energy projects. This decision fits in Montea's strategy to increase the sustainability of its sites in consultation with its tenants and to achieve an efficient energy management. This is why the generated electricity will primarily be offered to Montea's own tenants. The rest of the electricity will be sold to the distribution network.
By the end of May 2011, the installation of the solar panels should be completed. In total, about 17,000 m2 panels will be installed, an investment of about EUR 6.1 million.
Over the following months, Montea will study the feasibility of similar operations for other buildings in its portfolio in Brussels, Wallonia and France.
Apart from contributing to and improving the quality and sustainability of the portfolio, this investment will also contribute to the cost-effectiveness and average term of the portfolio.
The expected income from the sale and the green electricity certificates are estimated at EUR 860,000 a year, a gross initial yield in excess of 10% on the basic investment.
As the earnings from the green electricity certificates are guaranteed for a period of 20 years, the average guaranteed duration of the income in the portfolio also improves. In combination with the successful lease to Jan De Nul (site Aalst, Tragel) earlier this month for a fixed period of 15 years, the average term of the real estate portfolio on the first due date will increase from 3.5 years to 4.5 years. On the maturity date the average term will go from 5.5 years to 6.5 years.
With this operation, Montea underlines its focus on optimising the sustainability and quality on the one hand and improving the average term and cost-effectiveness of the real estate portfolio on the other hand.
Montea Comm. VA is a property investment company (Sicafi - SIIC), specialized in logistics and semi-industrial real estate in Belgium and France. The company wants to become a reference player in this market. Montea offers more than just storage sites and wants to give leasing clients flexible and innovative property solutions, thus creating value for its shareholders. As from 30/09/2010 the company's property totaled 451,808 m2 distributed over 31 locations. Montea Comm. VA has been listed on NYSE Euronext Brussels (MONT) and Paris (MONTP) since end of 2006
Joris Bulteel Whyte Corporate Affairs +32 2 738 06 21 [email protected]
FOR MORE INFORMATION
www.montea.com
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