As a cooperative, socially responsible bank, Banque Raiffeisen continues to invest in renewable energy. The Bank is inaugurating an installation of 414 photovoltaic panels producing an estimated 152,000 KWh per year
Aware of climate and environmental issues, Banque Raiffeisen is committed to an active and responsible policy aimed at reducing its energy impact and promoting clean and renewable energies.
The first large-scale project 100% made in Luxembourg
Although the initial feasibility studies began in 2022, the implementation of this ambitious environmental project began in 2023. The project was made possible thanks to close collaboration, supported by the Ministry of the Economy, between Banque Raiffeisen, the Betic design office and Socom. Solarcells, commissioned by Socom, the leading producer of 100% made in Luxembourg photovoltaic panels, launched production in October 2023 at the former Heintz van Landewyck site in Hollerich. By favouring local labour and know-how, Banque Raiffeisen is reaffirming its commitment to supporting the Luxembourg economy and favouring national players in its projects
414 panels for a production of 173.88 kW
No fewer than 414 photovoltaic panels, representing a production capacity of 173.88 kWp, have been installed on the roof of Banque Raiffeisen’s headquarters in Leudelange. The installation is expected to produce around 152,000 kWh per year for self-consumption, covering 10% of the Bank’s total electricity consumption. In practical terms, this new installation will cover the equivalent annual consumption of the 73 electric vehicle charging points installed in 2022 in the Bank’s underground car park. At the same time, the Bank is taking steps to improve its energy balance by optimising its day-to-day energy consumption
Inauguration in the presence of Mr Lex Delles and participating companies
On 12 September, Banque Raiffeisen’s photovoltaic installation, which is due to be commissioned later this month, was inaugurated in the presence of Mr Lex Delles, Minister of the Economy, SME, Energy and Tourism, representatives of the companies involved in the project’s success, and Banque Raiffeisen managers.
Pointing out that Luxembourg now ranks fourth in Europe in terms of photovoltaic power per capita and that by 2021, solar energy production in Luxembourg had increased 15-fold compared with five years previous, Minister Lex Delles praised Banque Raiffeisen’s commitment to renewable energy. He also emphasised the strategic importance of having, in Socom, an innovative, high-performance company capable of supplying reliable, high-quality photovoltaic panels locally.
Laurent Zahles, Chairman of the Management Board of Banque Raiffeisen, stated that, “ ... as a cooperative bank, Raiffeisen is fully aware of the challenges associated with sustainability and the important role which the financial sector can play in ensuring the transition to a greener and more sustainable economy. As such, we strive to integrate sustainability into our own day-to-day operations, adopting responsible practices at all levels of our organisation. Our clients also have the opportunity to contribute to this approach by subscribing to sustainable products and services offered by Raiffeisen. The implementation of the first photovoltaic project made in Luxembourg shows once again that the Bank continues to take significant initiatives in favour of renewable energies, and that it intends to continue on the eco-responsible path it has already mapped out for itself. Banque Raiffeisen is very proud to have been able to inaugurate a 100% made in Luxembourg photovoltaic installation on its roof today, and we would like to thank Minister Lex Delles and his ministry for their support, as well as the company Socom and the design office Betic for our excellent partnership and collaboration.”
Romain Lubin, energy performance manager for the buildings of Banque Raiffeisen, commented that, “... there are certainly some larger photovoltaic installations in the country. However, the technical challenges inherent in the existing buildings were numerous and the installation of 414 panels can be considered a success. The commissioning of this installation is testimony to the success of the partnership between Luxembourg businesses and Banque Raiffeisen, with the support of the Ministry of Economic Affairs.”