Cape Town's iconic V&A Waterfront has inked a landmark deal with South African energy trader Etana Energy to procure 43 gigawatt-hours (GWh) of wind and solar power annually.
The 10-year power purchase agreement (PPA), set to take effect by early 2026, marks a significant step towards the V&A's ambition to achieve net-zero carbon emissions by 2035.
“Securing this PPA advances our sustainability strategy and underscores our commitment to reducing our carbon footprint,” stated a V&A Waterfront spokesperson. “Combined with our rooftop solar installations, this agreement will see nearly 80% of our electricity sourced from renewable sources.”
The V&A Waterfront, a sprawling 123-hectare mixed-use development, encompasses residential and commercial properties, hotels, retail districts, and a host of dining, leisure, and entertainment facilities. The agreement with Etana Energy is expected to cover up to 70% of the V&A's energy requirements.
This move towards renewable energy follows a similar commitment by Growthpoint Properties Limited, a South African real estate trust and joint owner of the V&A Waterfront alongside the Public Investment Corporation. Growthpoint signed a deal with Etana at the start of 2024 for 195 GWh of renewable energy annually.
