A solar farm based in Wales to power Frasers Property UK’s business parks and support occupiers in reducing their Scope 1, 2 and 3 emissions.
Frasers Property UK has signed a new corporate power purchase agreement with MAPP to deliver sustainable energy to occupiers across its seven managed UK business parks.
Located near Llanedi, Wales, the solar farm will provide 27 MW of carbon-free renewable energy directly to multi-let buildings across all Frasers Property UK’s business parks in the Midlands and South East regions. This will support occupiers in achieving their sustainability objectives and in some cases, will also support the reduction of Scope 1, 2 or 3 emissions depending on the occupier and their building. This new initiative is part of Frasers Property UK’s wider sustainability plan in line with Frasers Property’s global ESG strategy of becoming a net-zero carbon organisation by 2050.
Frasers Property UK has already made progress with an 81% reduction in its Scope 1 and 2 emissions in FY2024 against a 2019 baseline, and is close to achieving its target of 82% by 2030. For Scope 3 emissions, the business saw a 28% reduction against a 2023 baseline.
Jeremy Parsons, Sustainability Director at Frasers Property UK, said: “Our focus for this year has been to follow through and deliver on our SBTi carbon commitments, most importantly reducing our emissions on single and multi-let buildings. This new initiative in collaboration with MAPP is another step closer to our targets and we’re pleased to be able to deliver a future-proof energy solution for our assets. The CPPA with MAPP provides our occupiers with green sourced electricity at a discount to market rate. This gives Frasers Property a competitive advantage as a sustainable real estate investor-developer-manager.”
Rowan Packer, Executive Director – Head of Sustainability and Energy at MAPP said: “Sustainable energy procurement within real estate has evolved significantly over the past few years and through Energy by MAPP, we are working with genuinely green energy suppliers and brokers, ensuring greener energy on the grid, as opposed to fossil fuel-generated electricity. By sourcing CPPA green electricity from a single, dedicated solar PV farm, Frasers Property UK is gaining the opportunity to report zero carbon emissions on their Scope 2 electricity. This approach not only delivers a meaningful difference to the planet, but it also enables Frasers Property UK to drive forward their decarbonisation strategy, whilst adding value to their assets.”
In FY24, Frasers Property UK achieved its first-ever 5-star rating at the GRESB assessment, recognising strong sustainability performance in all its UK business parks. Frasers Property UK received an overall score of 88, placing it ahead of the average peer group score of 76. The Group recently took a further step forward in ESG by publishing its climate and nature transition plan, representing its integrated approach to managing risks and opportunities across carbon emissions, climate and nature.
