Westbridge Advisory International, an operating costs consultancy, has helped Commerz Real achieve sustainable savings on a six-building portfolio in France.
On behalf of the German asset and investment manager, Westbridge said it had restructured the electricity supply contracts of a real estate portfolio comprising six high-quality properties. The assets are located in Paris, Toulouse, Levallois-Perret and Orange.
While Westbridge has acted on Commerz Real's behalf in Germany on a number of occasions, it said that this was the first time it had supported the firm internationally.
'Commerz Real benefits not only from lower costs and a lower carbon footprint, but also from a significant simplification of the price structure. We have replaced different day and night tariffs for summer and winter with a constant price over the entire contract duration,' says Hajo Engelke, managing director at Westbridge International.
With 22 supply points, the portfolio had an average annual electricity consumption of seven gigawatt hours. Following a comprehensive data analysis, Westbridge International negotiated aspects which are key to Commerz Real’s ESG-strategy into a new contract with several utilities and subsequently tendered the electricity supply for the portfolio.
Westbridge International will convert the electricity supply for the first properties to green electricity as of 1 July 2020. As soon as the entire portfolio is supplied by the new contract, Commerz Real is set to reduce its CO2-emissions by roughly 460 tonnes annually – totaling approximately 1,500 tonnes by the end of the contract duration in 2024. The energy costs are also set to be significantly reduced.