Realterm announces that its Europe Logistics’ Fund (RELF) has facilitated the donation of 86 decommissioned solar panels, including frames and inverters, to Paam Laafi Hospital in Burkina Faso, a country in West Africa.
Realterm recently purchased a property in The Netherlands with solar panels that were owned and operated by Solar Access. As part of the purchase agreement Realterm took over the lease on the panels. To upgrade the functionally of the site, Realterm retained Dutch contractor Van Zoelen to renovate the property. The renovation included the removal of the solar panels. The solar panels were going to be discarded so RELF and Solar Access sought options to donate them. Through Van Zoelen, Realterm learned about Paam Laafi Hospital in Burkina Faso and its need for an independent energy source.
"Our company’s sustainability and operation’s mission is to create a balance between economic viability, functionality, human beings, and the environment,” said Leonie Kierkels, Associate Director Asset Management Europe, Realterm. “We were delighted to learn that the solar panels from our building could be repurposed at the Paam Laafi Hospital in Burkina Faso where they will provide reliable and sustainable energy that will enable the hospital to provide steadfast care to the community.”
Paam Laafi hospital is located on the outskirts of Ouagadougou, Burkina Faso’s capital city, and houses 120 beds for patient care. Local power is extremely expensive and unreliable, occasionally going out for more than 24 hours. A generator to run the hospital in the event of an outage is both large and expensive to maintain and fuel. Given the sun-drenched terrain of Burkina Faso, solar energy is an extremely efficient and stable way to provide power to the hospital.
Photos of the solar panels being installed can be found here.
Realterm is a real estate operator with a 30-year track record of executing niche private equity strategies at the intersection of the global supply chain and evolving consumption trends. Realterm currently manages over $9 billion in assets through five logistics-oriented private equity fund series: Realterm Airport Logistics Properties (RALP), an open-end fund investing into high flow-through (HFT) on-airport logistics real estate throughout North America; Realterm Logistics Income Fund (RLIF), an open-end, core-plus fund, and the Realterm Logistics Fund (RLF) series, a closed-end, value-added fund series, both of which invest into HFT surface transportation logistics real estate throughout the U.S.; Realterm Europe Logistics Fund (RELF), a closed-end, value-added fund series investing into HFT logistics real estate throughout Europe; and Interspace Logistics Parks (ILP), a closed-end, opportunistic fund series investing into warehouse and logistics real estate throughout the top industrial markets in India.