Industria REIT to install 1MW of solar PV at Brisbane tech park

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.