Udy Group is a commercial property investment company operating in New Zealand and Australia. In an increasingly competitive market, the challenge for the Group was to differentiate from its competitors, and to find smart and sustainable ways to increase revenue from its existing assets.
Udy Group commissioned Vector Powersmart to investigate rooftop solar generation for the Tarewa Mega Centre in Whangarei. The solar production modelling indicated that installing a solar array would be a good investment so an initial 240 kWp solar photovoltaic (PV) array was installed in 2015. The system was a success and was expanded to 270kW in 2018.
For the Udy Group the solar PV array increased the Mega Centre’s property yield and capital value . For its tenants, the solar PV arrays helped them meet their sustainability targets. In addition, a portion of their electricity bill is fixed resulting in more stable energy costs and a hedge against future price rises. These benefits result in more loyal tenants on longer lease terms with fewer vacancies.
‘We are always looking for ways to increase the yields on our properties while providing our tenants with a better environment, to secure longer tenancy terms – commercial solar definitely ticks all of these boxes’
Dan Udy – Director Udy Group