Prologis Secures €225M EIB Loan to Advance Solar and Battery Storage Projects Across Europe

The loan will help fund the installation of solar panels on the roofs of its logistics centers across Western and Central Europe, along with battery storage systems to improve energy resilience and security.

Prologis, Inc. (NYSE: PLD), the global leader in logistics real estate, has secured a €225 million framework loan from the European Investment Bank (EIB) to support its ambitious plans for producing electricity from low-carbon sources. The loan will help fund the installation of solar panels on the roofs of its logistics centers across Western and Central Europe, along with battery storage systems to improve energy resilience and security.

Solar and Battery Storage to Drive Sustainability and Energy Security

The planned rooftop solar installations will significantly reduce CO2 emissions at Prologis' warehouses and increase energy security by providing an alternative energy source in the event of blackouts. The excess energy generated by the solar panels will be stored in battery systems or sold back to the grid, further contributing to the European energy market and aiding in the transition to a low-carbon economy.

Prologis will implement these solar and storage solutions across various locations in Germany, Belgium, Italy, France, Spain, the Netherlands, and Poland. The projects, which align with the EU's REPowerEU objectives, are slated for completion by 2026. This initiative will play a key role in enhancing the energy resilience of Prologis' logistics centers and supporting the company's long-term sustainability goals.

Supporting Prologis' Net-Zero Commitment by 2040

EIB Vice-President Robert de Groot expressed his support for the initiative, stating, "With this loan, the EIB supports Prologis in its efforts to become more sustainable and reduce its energy consumption. It's another example of how we can build a resilient and sustainable energy future together, something the EIB wholeheartedly supports."

Christian Nickels-Teske, Senior Vice President and Head of Treasury Europe & Capital Markets at Prologis, emphasized the strategic importance of this partnership with the EIB: "We are proud to partner with the European Investment Bank on these projects, which support our goal to be net-zero by 2040 and our renewable energy goals across Europe. This framework loan helps us achieve our sustainability objectives while enhancing energy resilience across the continent."

A Step Toward a Sustainable Future

Prologis' investment in renewable energy is part of the company's broader commitment to sustainability. By implementing solar energy solutions across its European warehouses, Prologis aims to significantly reduce its carbon footprint while also contributing to the EU's green energy transition.

This strategic move will not only help Prologis meet its renewable energy targets but also support European efforts to enhance energy security and independence. With the completion of these projects, Prologis will be able to provide clean, renewable energy to its operations, reduce reliance on external power sources, and support the decarbonization of the logistics and real estate sectors.

The EIB loan marks a significant step in Prologis' journey to become a leader in sustainable logistics real estate, aligning with the company's commitment to long-term environmental responsibility and the EU's climate goals.