Citi Tower was bought by the company in 2019. Image: Citi
Global bank Citi is to refurbish its Citi Tower offices in Canary Wharf, with plans for the installation of solar PV alongside other sustainability measures.
The installation of solar panels on the roof is forecasted to generate 52,577kWh per year, while other measures being implemented include energy efficiency measures to minimise electricity consumption, fixtures which are expected to reduce water consumption by 20% and the refurbishment and reuse of materials on site to reduce waste as well as embodied carbon.
Citi purchased the 42-story office tower in 2019, with it now home to its UK and Europe, Middle East and Africa (EMEA) operations. The renovation of the building - which Citi described as "major" - is expected to be complete in 2025.
The bank said that the decision to refurbish the building and bring it up to modern efficiency and environmental standards instead of demolishing the existing structure is expected to save the release of an estimated 100,000 tonnes of embodied carbon.
"Our aim is to create an environmentally sustainable, innovative and exciting place to work, incorporating modern design, state-of-the-art technology, and best practices in employee and client spaces,” said David Livingstone, Citi’s EMEA CEO.
Research from Element Energy recently found that rooftop solar PV in London could contribute almost 4GW of clean energy by 2050, supporting the capital city's transition to net zero.