Page 11 - AsiaElec Week 29

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with a like-minded community. Registered in the Port of Melbourne. ownership in TransGrid.”
users will also benefit from the dynamic “This announcement also represents an Spark Infrastructure holds a 15.01% equity
pricing of their green electricity rates due to increasing role for OMERS in the growth and investment in TransGrid, purchased for
the ability to determine the buying and selling development of New South Wales (NSW), A$734.3m in December 2015.
price through the trading platform. including the substantial investment being
The option to participate in the pilot undertaken by OMERS-owned Oxford
project will be made available to new and Properties in the Sydney Metro Pitt Street
existing Senoko Energy customers, limited over-station development,” Curtain said. RENEWABLES
initially to a closed community of 100 TransGrid’s high voltage transmission
participants. The aim is to test the potential network connected around 8m people in Reliance to replace auto
for commercialisation of this new energy NSW and the Australian Capital Territory
offering, with the ultimate goal of rolling it out to electricity supply, and the business offers fuels with electricity,
to all households and businesses in Singapore. investors like OMERS regulated revenue that
James Chong, head of Commercial matched its pension obligations, Curtain said. hydrogen; targets carbon-
Division of Senoko Energy, said, “Our Ralph Berg, global head of infrastructure
decision to invest in SolarShare is driven by at OMERS, said: “TransGrid is poised to zero co by 2035
two key factors – our commitment to meet continue making a crucial contribution to
Singapore’s renewable energy demand and to Australia’s electricity needs while also playing Reliance Industries, operator of the world’s
empower Singaporeans with greater choice in a key role in helping reduce carbon emissions largest refining complex, will replace
their electricity consumption. A ‘prosumer’ from the country’s electricity grid.” transportation auto fuels with clean electricity
culture will strengthen the energy security of OMERS Infrastructure acquired the stake and hydrogen as it set a target to become net
Singapore as producers can contribute excess from Wren House after Spark Infrastructure carbon-zero by 2035, its chairman Mukesh
energy to the energy grid, while consumers and other consortium members declined to Ambani said.
can choose where their electricity comes from take up their pre-emptive rights. The oil-telecom-to-retail conglomerate,
at their preferred price.” Wren House was part of the consortium, which has pivoted away from energy to
Electrify’s platform will use real-time data including Utilities Trust of Australia, CDPQ the new economy in recent years, will use
at 30-minute intervals to enable comparisons and Tawreed Investments (owned by Abu technology to convert carbon dioxide into
between the amount of energy supplied, the Dhabi Investment Authority), founded in valuable chemicals and other material
market demand and the prices offered. Both 2015 to acquire the asset from the NSW building blocks.
residential and commercial users will be able government for A$10.3bn. The company operates 1.36mn barrels
to log onto the energy trading platform to Spark Infrastructure managing director per day refineries at Jamnagar in Gujarat
view the available solar producers and choose and CEO, Rick Francis said today: “When and is one of the leading petrochemical
whom to buy from based on their energy considering this transaction, we see an manufacturers in the world.
usage. even more significant difference between “While Reliance will remain a user of
The energy demand during non-daylight the valuation and how the listed market crude oil and natural gas, we are committed
hours will continue to be met by Senoko is currently valuing Spark Infrastructure’s to embracing new technologies to convert
Energy to ensure there is no disruption in the
physical supply of electricity. Customers who
choose to purchase green energy from the
P2P platform will receive a consolidated bill
from Senoko Energy at the end of the month,
making it a seamless experience.

GRID
OMERS buys stake

in Australia’s energy

transmission company

Transgrid

OMERS has acquired a 19.9% stake in
Australian energy company Transgrid from
Wren House, a subsidiary of the Kuwait
Investment Authority.
Christopher Curtain, managing director
for Australia at OMERS Infrastructure, said
it was the Canadian pension fund’s second
commitment in Australia, after its investment

Week 29 22•July•2020 www. NEWSBASE .com P11