This article is from the Australian Property Journal archive
STOCKLAND will draw on finance from a $75 million senior debt facility from the Australian Government’s Clean Energy Finance Corporation (CEFC) to help it achieve its 2030 target for net zero carbon emissions across its logistics centres, retirement living operations and corporate head offices.
CEO Mark Steinert said the finance provided by the CEFC will support a portfolio-wide energy efficiency renewal program, as well as market-leading Green Star design and as-built standards for retirement living new-builds which will target a 35% reduction in emissions levels, compared with the requirements of the current building code.
Other initiatives will see Stockland accelerate the installation of 11MW of solar across its logistics business, including 770KW of solar photovoltaics at the Yennora Intermodal Distribution Centre, which boasts 30 ha of warehousing.
“Australia has promising renewable energy potential and we are working towards a cost efficient and low carbon future in line with the WorldGBC Net Zero Carbon Buildings commitment.
“This agreement with the CEFC is a strong example of how clean energy can be used across the built environment to deliver long term economic and environmental benefits, and we are pleased to be contributing to the on-going decarbonisation of Australia’s electricity network.” Steinert said.
CEFC CEO Ian Learmonth said the large rooftops at logistics and industrial sites are ideal locations for solar photovoltaics and it is exciting to see Stockland extending the benefits of renewable energy across this asset class.
“This facility further diversifies the CEFC’s investment in the property sector and is another example of its focus on reducing emissions through its Sustainable Cities Investment Program, which supports projects and programs that contribute to the energy productivity of Australia’s cities and regions.” Learmonth said.
Steinert said Stockland is setting the Australian benchmark for renewables and energy efficiency, having reduced its carbon intensity by 57% across its commercial property portfolio and saved over $106 million through energy efficiency improvements since FY06, including investing over $33 million in solar photovoltaics.
