Industria REIT (ASX:IDR) has entered into an agreement to install 1 megawatt of solar PV to power up Brisbane Technology Park.
The $1.6 million capital investment, is expected to yield about 15 per cent.
Industria REIT says the PV will be installed across 6 buildings at the technology park in Queensland’s capital, to reduce the impact of energy costs on its tenants.
The company says it will hold energy rates at level consistent with FY17 pricing and that will extend the benefit to its tentants at the site.
Shares in Industria REIT (ASX:IDR) are trading 0.86 per cent lower at $2.30.