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Investing in the energy transition

a.s.r. real estate continues on the path to renewable energy with its first investment in solar.

Following the recent acquisition of three wind farms, Dutch asset manager a.s.r. is strengthening its contribution to the energy transition and a sustainable living environment with an investment in the Pesse solar farm in the Netherlands.

The solar park in Drenthe is the first investment in solar farms by a.s.r. It is fully operational and sustainable energy company Eneco will buy the power. With more than 60,000 panels, the farm has a capacity of 32.6MW, which means it can meet the needs of approximately 11,500 households for electricity.

Located on 31.2 hectares, the solar panel farm was developed in cooperation with the local community. Farmers have made land available, including 17.3 hectares of land on a long lease from the ASR Dutch Farmland Fund, the agricultural fund of a.s.r. real estate.

The design of the solar farm includes a number of measures to promote and support nature, such as ensuring sufficient distance between the solar panels and creating pools as well as suitable planting, partly to hide the panels from view, but also, importantly, to make a positive contribution to biodiversity.

Dick Gort, chief executive of a.s.r. real estate, said: “a.s.r. wants to contribute to the energy transition to combat climate change. Purchasing energy parks makes a contribution to this.”

The investment in the Pesse solar farm follows the acquisition of the Jaap Rodenburg and Nieuwe Hemweg wind farms as well as a significant stake in the Princess Ariane wind farm. Gort said: “This will increase our share in sustainable energy projects and enable us to further reduce CO2 emissions in a.s.r.’s investment and insurance portfolio in the coming years.”

This investment contributes to a.s.r.’s  target to have invested €4.5 billion in impact investments by the end of 2024.