Solar Powers the Next Stage of Growth

tGreenman Energy’s (GME’s) rooftop solar network is now covering nearly half of on-site tenant electricity demand at the Greenman OPEN properties where it operates. Across 13 active plants – running for close to 1,000 operational days now – the network is generating an average yield of 3.50 MWh per plant per day, enough to cover 48.4% of customer energy needs at those sites and save an estimated 298 tonnes of CO2 to date.

The economics behind that are increasingly hard to ignore. German industrial electricity buyers are currently paying roughly 14–16 cents per kWh from the grid, while Fraunhofer ISE, a leading German solar research institute, puts the cost of generating large-scale rooftop solar at somewhere between 5.6 -12 cents per kWh – potentially less than half the grid price. Solar reached around 18% of Germany’s power mix in 2025, overtaking both gas and lignite for the first time – a shift that makes on-site generation less a sustainability nice-to-have and more a straightforward commercial decision.

The relationship between production and demand isn’t one-directional either. Around the middle of the day, when generation peaks, the panels often produce more than tenants use on site, and GME is paid for that surplus when it’s fed back to the grid. The 48.4% coverage figure is an average across the full day, including the hours when the sun isn’t shining, which is why there’s still room to close the gap. Battery storage is the obvious next lever – banking surplus daytime generation to extend on-site coverage further into the hours the panels can’t reach directly.

In the meantime, the footprint itself is growing. With 15 further PV projects already in progress across the portfolio, GME’s active solar network is set to more than double over the coming months – extending the same economics to a much larger share of the network.

Important Note

This update is for information purposes only. Shareholders in Greenman OPEN are not required to act upon any of the information contained in this update.

This update includes forecasts, forward-looking statements and estimates. There is a significant risk that targets and milestones mentioned in this update may not be met or may not be met in the expected timeline and the performance of Greenman OPEN may be affected if these targets are not met.

This update also includes current and historic information. Historic data and therefore past performance is not a good predictor of future performance.

Nothing in this update should be considered as investment advice or as a recommendation to invest.

Further Information

if you would like further information, please feel free to contact our investor’s team at enquiry@greenman.com