Page 17 - Climate Control News Magazine Feb 2019
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Net Zero
Dexus inks power deal for property portfolio
DEXUS HAS INKED one of Australia’s first supply- linked renewable Energy Supply Agreements (“ESA”), purchasing renewable energy off-site to power the base building services of more than 40 buildings in its New South Wales property portfolio.
This will be achieved through the procure- ment of renewable energy generation and pre- sents a new lever for Dexus and the property in- dustry to achieve net zero emissions.
Dexus, Australia’s largest office landlord, and Red Energy, which is 100% owned by Snowy Hy- dro, have signed a Memorandum of Understand- ing for a seven-year renewable ESA, to com- mence from January 2020.
The ESA is a key pillar in Dexus’s New Energy, New Opportunities strategy which aims to elim- inate emissions from its portfolio and create val- ue for Dexus’s customers and investors.
Executive general manager for sustainability
at Dexus, David Yates, said the agreement is a first for an Australian real estate investment trust and supports the company's ambition to achieve net zero emissions by 2030.
“Over seven years, we expect to source more than 300 gigawatt hours (GWh) of renewable ener- gy via this ESA, which is equivalent to the energy consumed by 38,000 households for a year,” he said.
Dexus head of group sustainability and ener- gy, Paul Wall, said the agreement allows Dexus to hedge a portion of its power price, providing a buffer against energy market uncertainty.
He said the deal has been struck at below cur- rent market rates, resulting in a fixed price for 50% of energy load over the next seven years.
“This means we can pass the savings directly to our customers, while operating our buildings using a responsible, emission-free source of en- ergy,” Wall said.
Dexus sustainability executive, Paul Wall.
“This new deal is expected to reduce the retail energy rate which we pass onto our customers through outgoings by more than 10% compared to existing contracted rates.”
Dexus is joined by other property companies that have pledged to be Net Zero by 2030 includ- ing Cbus Property and Nightingale Apartments, AMP Capital Wholesale Office Portfolio, Cund- all, Frasers Property Australia, GPT Wholesale Office Fund, Integral Group and Stockland.
Alliance to create net zero energy city
ENERGY AND SERVICES firm ENGIE has inked a 50-year agreement with the Spring- field City Group to create a net zero city.
Springfield City Group is the master plan- ner behind the emerging city of Greater Springfield, in Queensland Australia, which has a population of 40,000.
The aim is to ensure the six suburbs that make up the Greater Springfield community generate more energy
than they consume by 2038.
ENGIE executive vice president, Didier Holleaux, said the Zero
Net Energy Vision will enable the creation of a better, safer and more efficient environment for residents.
“By 2050, 70% of the world’s population will be living in cities. Through our Better Cities Today approach, ENGIE is at the forefront of developing solutions to meet the econom- ic, environmental and societal challenges that come with that growth,” he said.
“Greater Springfield is ENGIE’s first Better Cities Today project in Australia.”
Greater Springfield’s founder and city visionary Maha Sin- nathamby said the focus on efficient and sustainable energy production, storage and integration with the community has never been more important for Australia.
“We have one chance and a responsibility to get this right as an ongoing example for others to follow,” he said.
Greater Springfield is forecast to triple its overall resident and working population within the next 20 years and develop within the central business district up to 2.6 million square metres of mixed-use buildings and 22,850 apartments. ✺
ABOVE LEFT: ENGIE executive vice president, Didier Holleaux. ABOVE: The Greater Springfield community has a net zero vision.
CLIMATE CONTROL NEWS FEBRUARY 2019
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