LondonMetric Property (LMP) has equipped two of the warehouses in its portfolio with solar panels in a bid to help its tenants achieve their net zero ambitions.

The £2.7bn real estate investment trust (Reit), which recently agreed the £200m takeover of CT Property (CTPT ), has installed solar photovoltaic (PV) arrays – or solar panels – to warehouses in Bicester and Coventry. 

The new panels will generate energy of 577 kilowatt ‘peak’ power (kWp) output. This measure means that if the panels are working at full capacity for one hour then they will generate 577kWh.

The investment company, which is mostly invested in ‘urban’ warehouses, said the installation of solar panels was part of its strategy ‘to help occupiers progress their net zero carbon ambitions’.

The warehouse in Coventry will generate 275kWp, supplying food producer tenant Aubrey Allen with 25% of its annual energy needs. The warehouse in Bicester will generate 302kWp through its solar panels when they are installed later this year. The building is let to climate-positive home builder Greencore Homes and will supply 40% of its annual energy needs.

The solar panels are expected to save 100 tonnes of CO2 emissions each year and increase LondonMetric’s total installed solar capacity to 4.2MWp.

Mark Stirling, manager of the fund, said: ‘We are constantly reviewing how we can add further solar across the portfolio and refreshing our pipeline but it takes a while to get these things in place’.

‘There is still a lot of education taking place among stakeholders, including our occupiers, around the opportunities for PV.’

Reits are also under pressure from government energy efficiency targets. As of April this year, commercial property landlords could only lease assets that had an energy performance certificate (EPC) of E or above, and the threshold will be increased to C-rated by 2027 and B-rated by 2030.

LondonMetric said 85% of assets are EPC rated A-C and the fund is focused on ‘improving the quality of our assets and their energy efficiency’ through heating upgrades, installation of renewable energy, improvements in roofing, and electric vehicle charging points.