LXi REIT PLC - London-based commercial real estate investment trust - Announces addition of "a substantial solar array" at its Bombardier facility at Biggin Hill Airport in Bromley, England. Generation arm of Octopus Energy Group is funding the array at no cost to LXi. LXi is facilitating the installation of the 1.2 megawatt peak array as part of plans for the forward funding development at Biggin Hill, which it acquired in 2019. The Bombardier facility, which hosts the maintenance, repair and overhaul of aircraft, completed in March 2022.
LXi expects the array's installation to complete by the second quarter of 2024, and to generate over 1,100 megawatt-hours of renewable electricity per year. Says it will provide around 30% of Bombardier's total electricity consumption and "significantly" reduce costs. Company has six electric vehicle charging projects, and eight more solar initiatives totalling around 6.5 MWp, in its near-term pipeline.
Current stock price: 92.55 pence, down 0.8% on Monday morning in London
12-month change: down 19%
By Emma Curzon, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.