Lend Lease launches solar business

Lend Lease has announced the launch of Lend Lease Solar, a dedicated renewable energy business that will seek to establish market leadership in the delivery of high-quality solar solutions.

Lend Lease will use its integrated property capabilities to develop and deliver solar photovoltaic (PV) installations across the residential, commercial and energy generation sectors. Products will range from domestic installations to large solar power stations exceeding AU$500 million in value. To facilitate this, Lend Lease Solar has established supply partnerships with US-based First Solar, which is the largest manufacturer of thin-film PV panels in the world, and Norwegian-based REC, the world’s third largest solar PV company, which will provide silicon PV panels.

Strategic sales alliances have been developed with two major Australian corporations in the banking and energy sectors providing direct access to over three million households. Lend Lease Solar is also involved in two of the four short-listed PV proponents for the federal government’s Solar Flagships program for the country’s first solar power stations. In addition, the customer base of Bovis Lend Lease will be accessed as the foundation for the solar rooftop offering focusing on retail, office and industrial assets.

Bovis Lend Lease’s Managing Director Australia, Tony Costantino, said: “The Australian government’s Renewable Energy Targets (RET) legislation will require an investment of some AU$60 billion over the next 10 years to achieve its target. We believe solar PV will be a key contributor to the RET especially with the solar credits regime and feed-in tariffs available in most states.

“There are over six million detached dwellings in Australia and less than 100,000 of those have solar. With energy prices predicted to increase 20% year on year over the next three to five years, we see enormous potential in the solar PV market.”

The new entity will be headed up by long-term Lend Lease Executive Chris Carolan who was instrumental in the project teams which delivered Australia’s first 5 and 6 Green Star as-built ratings for 30 The Bond and The Gauge and also acted as Project Director for the ANZ Centre in Melbourne, which is now considered one of the leading green buildings in the world.