Investing into energy efficient shopping

Heron City

In 2016 CapMan invested into Heron City, a five story shopping centre located in southern Stockholm. The centre is located in an area expected to grow through the development of commercial spaces and a total of 4,000 new apartments, and acts as a community hub for leisure activities.

June 12, 2019

With approximately 7 million annual visitors, Heron City is one of the largest commercial properties in Stockholm. The shopping centre’s gym opens in the early hours of the morning, and its cinema as well as restaurants stay open beyond midnight. Meaning that Heron’s facilities are closed for roughly 5-6 hours each day, which together with retailer’s demands for ventilated and well lit spaces make for an energy intensive property.

 Aware of the strain which 50 tenants and over 50,000 m2 of retail space sets upon the environment and local community, in 2017 CapMan commissioned E.ON to conduct an energy efficiency audit. The audit included a study and analysis of the total energy consumption, ie. electricity, heating and cooling, of the property. In total, 30 action points were identified through of the audit, of which 14 were prioritised to reduce the total energy consumption. The distribution of energy consumption is presented below.

The sheer size of the centre provides great opportunities for impactful ESG investments, which the audit identified as action points. These investments have already begun, and by acquiring technical systems and equipment from tenants, Heron is now able to optimise energy usage more efficiently.

New ventilation and air handling units, cooling and automation systems, allow for efficient air conditioning and more enjoyable visits to the centre for customers. Modern, low energy lighting and control systems have also been installed, and solar panels will be introduced in the near future. As identified in the audit, the overall objective is to upgrade all technical installations and equipment, creating a more energy efficient property. CapMan is working together with property managers and tenants to execute planned improvements that contribute to energy consumption reduction targets.

Distribution of energy use in 2015