Hyprop Investments, a South African real estate investment trust focused on major retail centers, has invested R45 million ($2.73 million) to expand solar power capacity at The Glen Shopping Centre in Johannesburg, as it cuts exposure to rising electricity costs and strengthens the reliability of its operations.

The second phase of the solar project, which follows a 1 MW AC rooftop installation completed in 2020, has now been finished and commissioned. The upgrade lifts total installed capacity at the site to 4,304 kWp, increasing the share of energy drawn from on-site generation and reducing dependence on the municipal grid.

Sustainable power at The Glen

Hyprop said the system is expected to produce more than 5 gigawatt-hours of electricity a year. That output will cover just over 40 percent of The Glen’s total demand and generate annual savings of more than R12 million ($0.73 million). The panels are mounted on carport structures across the property, integrating power generation into the mall’s existing footprint.

Across its South African portfolio, the new capacity brings Hyprop’s total installed solar supply to 21,975 kWp, equal to 17 percent of total energy use. It also has four additional solar projects underway in South Africa and two in Croatia, while it continues to assess battery storage options to stabilize supply and manage peak demand. “We are committed to delivering sustainable value across our portfolios,” said Steven Riley, Hyprop’s head of projects and sustainability.

Tenant turnover expands across regions

Hyprop Investments operates a portfolio of large retail and mixed-use centers in South Africa and Eastern Europe, including Canal Walk, Rosebank Mall, Somerset Mall, and The Glen. These properties function as key shopping destinations, supporting steady tenant demand and consistent foot traffic while anchoring surrounding commercial activity.

Chief executive Morné Wilken, who has led the group since 2019, continues to steer Hyprop through a period of steady earnings growth supported by stronger trading at its South African assets and improving performance in Eastern Europe. The company has guided for income growth of up to 12 percent in 2026, following results for the year ended June 30, 2025.

Revenue rose 8.9 percent to R6.9 billion ($397.46 million), compared with R6.34 billion ($364.03 million) a year earlier. Tenant turnover increased 6.1 percent in South Africa and 10.2 percent in Eastern Europe, reflecting firmer trading conditions across its portfolio. Distributable income per share rose 7.3 percent to R4.09 ($0.235), supported by improved property performance and lower financing costs.