BAKU, Azerbaijan, December 11. Prologis, Inc. has secured a 225 million euro framework loan from the European Investment Bank (EIB) to fund its efforts in developing renewable energy solutions across its logistics centers in Western and Central Europe, Trend reports.
The funds will be used to install solar panels on the rooftops of Prologis warehouses, along with battery storage systems to enhance energy resilience.
The project, spanning countries including Germany, Belgium, Italy, France, Spain, the Netherlands, and Poland, aligns with the European Union’s REPowerEU objectives. It is expected to reduce CO2 emissions and improve energy security, while excess energy can be stored or sold to the grid. The projects are set for completion by 2026.
EIB Vice-President Robert de Groot emphasized the importance of the loan in supporting Prologis' sustainability efforts, while Prologis' Senior Vice President Christian Nickels-Teske noted that this loan is integral to the company’s goal of achieving net-zero emissions by 2040 and bolstering energy resilience across Europe.