Warburg-HIH Invest Real Estate GmbH has kicked off the process of converting its European real estate portfolio to green energy. The Hamburg-based investment manager successfully implemented the new energy supply for the LEED Platinum-certified White House office building in the Hungarian capital of Budapest in partnership with operating costs expert Westbridge International AG. The move will cut the building’s carbon emissions by just under 2,700 tonnes within the next three years. The fully let building is part of an open-ended special alternative investment fund (AIF) managed by Warburg-HIH Invest.
White House is located at Vácí út 47/E in the north of the city and has an annual energy consumption of 2,975 gigawatt-hours (GWh). The new tender process for the energy supply contracts was preceded by a dedicated analysis of the building by Westbridge International, which involved evaluating and reviewing existing terms and conditions. Warburg-HIH Invest has opted for energy provider ELMŰ-ÉMÁSZ to supply the Budapest building moving forward.
“Purchasing energy generated from renewable sources is a core element of Warburg-HIH Invest’s sustainability strategy,” says Alexander Eggert, Managing Director of Warburg-HIH Invest. “After kicking off the process of converting the Germany portfolio to green energy, we are now following suit with our international properties. In Westbridge we have a partner with an outstanding network of international contacts that can help us identify and leverage potential in sustainable energy procurement.”
“We helped Warburg-HIH Invest implement its ESG strategy in Germany last summer, and we are delighted to continue our partnership on an international scale,” says Hajo Engelke, Managing Director of Westbridge Advisory International AG. Further projects for Warburg-HIH Invest are ongoing in France, the Netherlands, Austria, Poland, Sweden, Spain and the Czech Republic. Excluding projects currently in the pipeline, 14 buildings in the European portfolio already use green energy, including one property in Austria, five in the Netherlands, seven in the UK and one in Poland.
