Greenman OPEN Partners with Greenman Energy to Launch Virtual Power Plant

Berlin, Germany – Greenman OPEN (OPEN), Germany’s leading grocery-retail real estate investment fund, has announced a strategic partnership with its sister company, Greenman Energy, to launch a Virtual Power Plant (VPP). This initiative follows Greenman Energy's recent approval to operate as a utility in Germany.

As an Article 9 fund, OPEN is committed to integrating sustainable practices and future-oriented technologies across its assets. This partnership enables OPEN to advance its mission by utilizing renewable energy solutions to power over 90 properties throughout Germany.

Since 2021, Greenman Energy has equipped many of OPEN's properties with photovoltaic (PV) panels and electric vehicle (EV) chargers. With its new utility status, Greenman Energy can now efficiently distribute this renewable energy, supplying electricity to all OPEN properties, including EV chargers, and offering the utility to tenants. This efficient energy distribution will significantly reduce costs and creates a new income stream.

"This is a significant step towards energy resilience, sustainability, and cost savings across the Greenman OPEN portfolio," said Johnnie Wilkinson, CEO & Executive Director of Greenman Investments. "Launching the Virtual Power Plant provides our retail tenants with access to renewable energy, enhancing their operational efficiency and sustainability, and significantly contributes to our goal of becoming Net-Zero."

Max Bley, CEO of Greenman Energy, added, "By leveraging Greenman OPEN's extensive property network, we can scale up the generation and distribution of renewable energy more efficiently and will soon offer our utility services to the public."

The VPP is expected to be available for public access across Germany in 2025. The goal is to generate 100,000,000 kWh by 2029 which would represent approximately 50,000 households and be the equivalent of around 3.5 million EV charges.