Greenvolt to Install 1 GWh Solar Plant at Almada Forum Shopping Center
Greenvolt Next, a subsidiary of the Greenvolt Group, has announced a new project to install a photovoltaic power station on the roof of the Almada Forum shopping center. The facility, owned by real estate giant Merlin Properties, is located in Almada, across the river from Lisbon. The project involves the installation of approximately 1,275 photovoltaic panels, which will have a total installed capacity of 707.63 kWp. The system is estimated to produce more than 1 GWh (1,078 MWh) of electricity per year, according to a company statement released this Thursday.
João Manso Neto, the CEO of the Greenvolt Group, commented on the announcement, stating that “this is another example that decentralized energy production solutions are playing an increasingly relevant role in the real estate retail sector, by allowing the enhancement of existing spaces, generating significant economic benefits, and reinforcing commitments with sustainability.” The installation is expected to lead to a significant reduction in the carbon footprint of Almada Forum. The company estimates it will prevent the emission of approximately 517 tons of CO₂ annually, an amount that would require about 23,000 trees to absorb over the same period. Investors interested in sustainable projects can find specialized green building constructors through our professional directory.
The director of Almada Forum, Generoso Mateus, noted that the project aligns with the shopping center's own environmental goals. “The self-production of clean solar energy is in line with Almada Forum’s sustainability and CO₂ emission reduction strategy, while also adding value to the real estate asset, both through the reduction of operating costs and through the appreciation of the property itself,” Mateus said. This highlights a growing trend where commercial property owners are leveraging sustainability to improve financial performance and asset valuation, a key topic covered in our market intelligence and analysis blog.
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The project's execution was planned to avoid any negative impact on the shopping center's daily activities. Duarte Ferreira, Director of Decentralized Generation at the Greenvolt Group, emphasized the careful planning involved. “The project at Almada Forum shows that it is possible to implement these solutions in large-scale infrastructures while maintaining the normal functioning of the space. The rigorous planning of each phase allowed for achieving results without disruption for tenants and visitors,” he explained. This successful execution in a high-traffic commercial environment serves as a strong case study for similar assets across Portugal.
The statement from the company further noted that this initiative positions Almada Forum as a leading example in the energy transition within Portugal's retail sector. By integrating a large-scale solar system, the project optimizes existing space for clean energy production, reduces operational expenditures, and strengthens the asset’s alignment with Environmental, Social, and Governance (ESG) criteria. This alignment is increasingly critical for attracting and retaining institutional investors, who place a high value on sustainable and responsibly managed assets. For more information on investment risks and opportunities, our investment risks guide offers further context. Stay updated on real estate technology trends at realestate-lisbon.com.