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CONSTRUCTION WORLD
MAY
2015
PROJECTS AND CONTRACTS
A total of 702 solar panels have been
installed on the roof of the Cape
Quarter Square and so far initial results
show that the installation is outperforming its
expected cost savings – by 20%.
The project, which was managed by Spire
Property Management, took several months of
research and due diligence before a contractor
was selected who could effectively deliver on
the required results. “Sola Future Energy were
selected to conduct the Cape Quarter PV solar
installation,” explains Simon Penso, head of
sustainability for Spire. “Once the project was
given the final green light it took only a month,
from mid-November to mid-December, to
complete the onsite installation of the panels.”
“Sola Future Energy used specially manu-
factured mounting structures and modular
systems that allowed for this speedy installa-
tion time. Sola have also given us an energy
production guarantee on the predetermined
amount of energy promised.”
The Cape Quarter PV Solar installation is
being monitored through a roof top weather
EXCITING INITIAL RESULTS FOR
CAPE QUARTER
The Cape Quarter now features a bank of highly efficient solar panels
on its roof. This flagship property within the Tower Property Funds
portfolio recently received an extensive PV solar system installation
as part of the funds greening and occupancy cost reduction strategy.
station that feeds results through to an
online portal that allows Spire Property
Management to check how the system is
performing at any time.
Initial results indicate that the solar panels
on the roof of the Cape Quarter will allow
for an electricity saving of approximately
R400 000 per annum. “These figures mean that
the solar installation will pay for itself within
eight years,” says Penso. The lifespan of the
system is 25 years.
Marc Edwards, CEO of the Tower Property
Fund explains that the Cape Quarter has also
undergone lighting and other retrofits which
will save the centre an impressive R1-million
per annum in energy costs for the property.
According to Edwards, there are additional
exciting plans on the cards for even greater
future energy savings at the Cape Quarter.
“Recent global research has shown that
green buildings outperform normal buildings
significantly – on average achieving rental
premiums of 6%, capital value improvement
of 12%, while reducing operating costs by
30%. Tower has set a clear strategy of
occupancy cost reduction across the
board for all the buildings within the
fund’s portfolio, with a strong focus
on ‘greening’, and as the funds flagship
building we rolled out this solar retrofit
at Cape Quarter first, but this will soon
be followed by similar initiatives in
other properties within the portfolio,”
says Edwards.
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