JSE-listed property group Resilient REIT is adding more solar panels and batteries at its shopping centres to depend less on the national grid, Daily Investor reported.
The group said its solar capacity is set to reach 94.4 MWp by the end of its 2026 financial year. Its battery storage has grown to 30.7 MWh.
“Investing in solar and battery solutions reduces the exposure to administered electricity cost increases,” said Junior Yun, an equity analyst at PSG Financial Services.
According to its half-year results, Resilient is on track to add 6.4 MWp of solar capacity before its financial year ends. The company said this will supply 43.2% of all the electricity its properties use.
That is a big jump from its 2023 financial year. At that time the group had 59.9 MWp of solar capacity, which covered only 27.7% of its power use.
Resilient is rolling out the systems at its retail centres across the country. The aim is to keep rising electricity costs under control and to rely less on Eskom.
In a presentation for PSG, Yun said the REIT owns good quality properties, mostly retail centres. He said these have low vacancies, positive leasing and clear room to grow.
Yun named the energy projects as one of the group’s strengths. He said they have given the business extra growth and helped protect its profit margins.
He also said much of this strength is already priced into Resilient’s share value. PSG has a hold recommendation on the stock.
In the first half of its 2026 financial year, Resilient said its distributable earnings rose 11.66% to R919.3 million.
Its South African net property income grew by 6% on a like-for-like basis. Comparable retail sales at its centres rose by 2.9%.
Lease renewals in the local portfolio were signed at an average increase of 2.5%. New leases were signed at 7.1%. The group kept a low vacancy rate of 1.9% across its 28 South African retail centres.
Resilient has a market value of R28.81 billion on the JSE. Its malls include Galleria Mall in KwaZulu-Natal, Mall of the North in Limpopo and The Grove Mall in Gauteng. It also owns shopping centres in Portugal, France and Spain.
In 2024, the company said its long-term energy plan would protect its property income from above-inflation hikes in municipal rates and utility tariffs.
“Resilient’s objective is to reduce its reliance on grid-provided electricity by continuing the expansion of its solar and battery installations,” the company said at the time.
The group said batteries allow it to add more solar panels. It said automated micro-grid systems help it manage power demand and use.
According to Daily Investor, the projects also guard Resilient against Eskom’s move to more cost-reflective electricity prices and new tariffs.
Resilient has also put backup water storage at each of its shopping malls because of breaks in water supply.
Source: this article is based on reporting by Daily Investor. Image: Daily Investor. Written with the help of AI and published by the Tzaneen Voice Business desk. See our Editorial Standards.
Anelisa Nkuna covers business and money news for Tzaneen Voice. Anelisa reports on the rand, fuel prices, interest rates, jobs, Eskom, Transnet, farming and company results. The aim is simple: explain what the numbers mean for household budgets, small businesses and workers in South Africa.