Calder Stewart invests $110M to install solar panels across its industrial building rooftops in New Zealand

New Zealand's largest industrial landlord, Calder Stewart, plans to spend $110 million turning the rooftops of its buildings into solar power stations, in a move aimed at lowering electricity costs for tenants and creating a new energy revenue stream.

The company intends to install up to 170,000 solar panels across its national portfolio over the next decade.

At full rollout, the system is expected to generate enough electricity each year to power between 15,000 and 20,000 homes.