Fiera Real Estate Achieves Milestone in Rooftop Solar Construction Project

In celebration of Earth Month, Fiera Real Estate Investments Limited is pleased to announce that it has commenced construction on a 1.45+ mW DC rooftop solar project at an industrial facility owned by the Fiera Real Estate CORE Fund located in Balzac, Alberta. The project is expected to generate more than 1,960,000 kWh per year and reduce greenhouse gas emissions by approximately 1,470 tonnes per year. This project is part of the Fund’s commitment to its net zero emissions pathway, which identifies its approach for achieving net zero emissions by 2040 in a cost effective and economically viable way.

The rooftop solar project is another significant milestone in the Fund’s commitment to decarbonize. The Fund completed over 800,000 square feet of LED lighting retrofits in Alberta in 2023 with another 900,000 square feet of retrofits being implemented in 2024. In aggregate, this represents over 75% of the Fund’s Alberta footprint and enables not only carbon reduction but lower utility costs for tenants. These initiatives, in combination with projects across Canada, continue to support decarbonization within the organization’s portfolio.

“Supporting the transition to a low-carbon economy is a key component of the Fund’s strategy. Not only do these actions benefit the environment, but they protect asset value and support the Fund’s future financial returns”, said William Secnik, SVP and Fund Manager.  “Investors are now not only looking for financial returns, but they are also seeking to deploy capital in a manner which meets their values and sustainability objectives. As stewards of our investors’ capital, our mandate to support emissions reductions has been made clear.”

Responsible investing is a core element of Fiera Real Estate’s strategy. The organization has certified 100% of its assets with independent, third-party green building certifications and continues to participate in industry benchmarks such as the Global Real Estate Sustainability Benchmark across various fund offerings.