CTP receives 200 million euros from the European Investment Bank for the expansion of solar energy

CTP, Europe's largest listed developer, owner and manager of industrial and logistics real estate by gross lettable area (GLA), has received €200 million in financing from the European Investment Bank (EIB) to support the implementation of its large-scale programme to install solar panels across its European business park portfolio.

The 10-year unsecured loan will help accelerate the energy transition, increase security of electricity supply and promote climate action as well as social and economic cohesion. The loan is part of the EIB's specific contribution to REPowerEU, the plan to end Europe's dependence on fossil fuel imports, and has been offered on attractive terms.

CTP has a portfolio of 10.9 million square metres (GLA) across Central and Eastern Europe, with an increasing focus on Western Europe in markets such as Germany, Austria and the Netherlands. The portfolio holder is aiming for rapid growth in energy generation across its portfolio and has established its own energy company to oversee the provision of solar installations.

Since 2020, CTP has ensured that all of its industrial and logistics buildings are "PV-ready". The developer and operator is targeting a 15 per cent return on its solar investments and has installed 38 MWp of PV capacity on its rooftops by the end of 2022, with plans to increase this by a further 100 MWp by 2023. The EIB financing will support CTP's medium-term goal of reaching 400 MWp by 2026. In cases where on-site renewable energy is not available, CTP is working with energy suppliers to provide customers with 100 per cent renewable energy.

In Austria, there are already two parks, CTParks Vienna East and St. Pölten Nord, which will be equipped with photovoltaics on their roofs this year. By the end of the year, these are expected to supply 6.5 MWp of electricity. In future, the solar panels at CTPark Vienna East will supply 4.3 MWp and the panels on the roofs of CTPark St. Pölten North 8 MWp. In Germany, photovoltaic systems are planned for the roof areas of the recently acquired property in Weiden i.d. Oberpfalz and for the first new CTP construction project in Bremen. The implementation strategy for equipping the existing German portfolio is currently being finalised.

CTP plans to almost double its portfolio to 20 million square metres by the end of the decade. In the longer term, CTP aims to create fully energy-independent industrial parks, where all energy consumed on site is generated within the park and surplus energy is fed into the local power grid to support the surrounding communities. This will reduce overall costs for CTP's customers and help create a more resilient and secure energy grid, while reducing the carbon footprint of CTP and its customers.
 
Richard Wilkinson, Group Chief Financial Officer, CTP, said: "The support of the European Investment Bank is testament to the sound business strategy we are pursuing to realise the large-scale installation of solar PV across our portfolio and enables us to obtain long-term unsecured financing on attractive terms. Sustainable financing is the way forward and we are proud to have the European Investment Bank as a new financial partner."
 
Peter Ceresnik, Chief Operating Officer, CTP, adds: "CTP has long been a pioneer in the development of sustainable industrial and logistics space. And we are now applying the same long-term vision and ambition to renewable energy. The funding from the European Investment Bank will accelerate our plans to maximise the solar potential of our portfolio and help us achieve our medium-term target of installing 400 MWp by 2026. It will also help us realise our longer-term vision of transforming our parks into energy parks. This means they can produce and share surplus renewable energy, benefiting not only our customers and local communities, but also our planet."

"There is a huge untapped potential for renewable energy in Central and Eastern Europe," said EIB Vice-President Lilyana Pavlova. "With loans like the one to CTP, we are helping countries in the region to move away from fossil fuels. This will reduce their dependence on energy imports and ultimately lead to a reduction in electricity prices that will benefit everyone. CTP's rooftop solar installations support the transition to a low-carbon, environmentally friendly and climate resilient economy - a transition that makes economic and social sense."
 
The EIB financing comes after CTP published its first sustainability report, which provides transparency on how CTP fulfils its ESG commitments and how these are aligned with the requirements of the EU Taxonomy. The report is aligned with the Global Reporting Initiative (GRI) standards, the EPRA recommendations for best practice in sustainability and the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

CTP has long been a pioneer in the development of sustainable, energy-efficient industrial and logistics properties. In 2013, it was the first company to develop a BREEAM 'Outstanding' rated building outside the UK and the first European industrial and logistics development company to have its entire portfolio, comprising over 200 buildings, BREEAM certified. Since 2021, all CTP buildings have been built to high BREEAM standards - "Very Good" or better - offering the assurance of energy efficiency.

The company's ESG strategy focuses on four key areas: striving for a positive climate footprint, embedding its business parks in local communities, promoting social impact and wellbeing, and conducting business with integrity. CTP has been awarded a "Low-Risk" ESG rating by Sustainalytics, placing it in the top 1.5 per cent of companies globally, underlining the company's long-term commitment to sustainable business. CTP is also included in the AEX ESG Index, which comprises the 25 companies within the AEX and AMX indices that have the highest ESG performance.
 
About CTP
CTP is Europe's largest listed holder, developer and manager of logistics and industrial real estate in terms of total lettable area. As of 30 June 2023, CTP owns 11 million square metres of GLA in 10 countries. CTP certifies all new buildings to BREEAM 'Very Good' or better and has been awarded a 'Low-Risk' ESG rating by Sustainalytics, underlining its commitment to being a sustainable business.
For more information, please visit CTP's corporate website: www.ctp.eu

About the EIB
The European Investment Bank (EIB) is the long-term financing institution of the European Union. Its shareholders are the EU Member States. The EIB provides long-term finance for sound projects that meet EU objectives, including social and territorial cohesion, and contribute to the just transition to climate neutrality.

The EIB was the first multilateral development bank to end support for fossil fuels, committing to support €1 trillion of climate action investments this decade.

In July 2023, the EIB's Board of Directors decided to increase the additional funding earmarked for projects under REPowerEU, the plan to end Europe's dependence on fossil fuel imports, to €45bn. The additional funding comes on top of the EIB's already significant support for green investments and represents a 50 per cent increase on the EUR 30 billion package originally announced in October 2022.

CONTACTS:
 
ANALYST AND INVESTOR ENQUIRIES:
Maarten Otte, Head of Investor Relations
Mobile: +420 730 197 500
Email: maarten.otte@ctp.eu
 
MEDIA ENQUIRIES:
CTP
Patryk Statkiewicz, Group Head of Marketing & PR
Mobile: +31 (0) 629 596 119
Email: patryk.statkiewicz@ctp.eu  
 
European Investment Bank
Antonie Kerwien
Mobile : +352 691289790
Email : a.kerwien@eib.org
 
SEC Newgate
Alli Hayman
Mobile: +44 (0) 7780 662 418
Email: CTP@SECNewgate.co.uk