• The second phase of the project begins, which will add a further 1,767 kWp across assets in Spain and Portugal, strengthening the company’s commitment to energy sustainability.

• The company has achieved an "Excellent" rating in the renewal of BREEAM certifications for all its shopping centres in Spain and Portugal.

• This certification reinforces the objectives set out in its FY25 ESG Report, published today, which outlines the roadmap for its sustainability strategy, “Beyond ESG Boundaries”.

Castellana Properties, a listed company specialising in the acquisition and management of shopping and retail parks in Spain and Portugal, together with Sunbird Solar, a company specialising in solar and energy storage solutions for shopping centres, continues to advance its joint development of Castellana Green, an innovative initiative to install photovoltaic plants across the company’s commercial assets.

Following the creation of their joint venture in January 2024, both companies have successfully completed the first phase, which involved the installation of 1,550.4 kWp of solar power across four shopping centres. This will enable an estimated self-consumption of 1,995.6 MWh per year. In parallel, the second phase of the project is already underway and will add a further 1,767 kWp across assets in Spain and Portugal, increasing annual self-consumption by an additional 2,240 MWh. In total, Castellana Green will reach 3,317 kWp installed, consolidating the objective of leading the sustainable transition in the retail sector and making a significant contribution to CO₂ emissions reduction and the energy efficiency of Castellana Properties’ portfolio.

Beyond the positive impact on emissions reduction and the enhanced sustainability of its assets, this project positions Castellana Properties at the forefront of the retail sector in the deployment of innovative energy solutions, reinforcing its focus on energy efficiency and environmental responsibility.

According to Jorge Orondo, Senior Energy & Utilities Manager at Castellana Properties, “Completing the first phase of Castellana Green marks a decisive step in our commitment to transforming the retail industry through a sustainable and forward-looking vision. This project demonstrates our ability to deliver innovative and scalable solutions that can directly impact the reduction of emissions and energy consumption across our portfolio. This progress strengthens our commitment to the highest ESG standards, promotes renewable energy self-consumption, and enables us to deliver tangible value to operators, property owners and society as a whole.”

A strategy recognised for its commitment to sustainability

As part of its strong commitment to sustainability, the company has renewed BREEAM certification across its shopping centres in Spain and Portugal, achieving an “Excellent” rating both for the buildings themselves and their sustainable management. This recognition, which covers various environmental categories, includes its shopping centres in Spain — Los Arcos, Bahía Sur, Puerta Europa, El Faro, Habaneras and Vallsur — and in Portugal — 8ª Avenida, LoureShopping and RioSul. Currently undergoing renewal are Bonaire and Forum Madeira (both recently acquired), as well as Alegro Sintra, in joint venture with Ceetrus.

This milestone aligns with the company’s “Beyond ESG Boundaries” strategy, launched in 2021, which focuses on key objectives in environmental responsibility, governance and social impact. The strategy has enabled the company to achieve critical goals ahead of schedule, as detailed in its newly published FY25 ESG Report.

Looking ahead, among its key initiatives, Castellana Properties has established a new environmental roadmap focused on energy performance, climate change, natural resource management and wellbeing. In addition, 2025 marks the beginning of a new phase of the company’s ESG strategy, which will run until 2030, further reinforcing its long-term commitment to sustainability.