Australian property funding administration firm Constitution Corridor Group has introduced the change to 100% renewable vitality to energy its operations, a transfer the corporate is making via a wind and solar energy buy cope with world big Angie.
The PPA, introduced Thursday, indicators Constitution Corridor to a seven-year contract beginning in 2024 to purchase 151GWh of renewable vitality yearly from Engie – sufficient to energy about 26,000 houses – to energy 152 websites. .
That photo voltaic and wind energy will come from a mixture of Angie’s tasks, together with the 119MW Willogolache wind farm in South Australia and the 214MW Wooluga photo voltaic farm in Queensland, with different property but to be introduced.
Constitution Corridor Managing Director and CEO David Harrison stated the deal from Angie to supply “safely competitively priced, renewable electrical energy” will present long-term advantages to its companions, clients and communities.
“This PPA won’t solely scale back Constitution Corridor’s carbon emissions by 70 p.c when the partnership is activated in 2024, it would additionally be certain that we attain internet zero carbon in operations (Scopes 1 and a couple of) on or earlier than 2030. Keep on observe in the interim,” Harrison stated.
“As well as, our funding in renewable electrical energy purchases will assist Australia’s transition to a low-carbon economic system and speed up trade progress and capability to safe new and improved renewable applied sciences to profit future generations.”
In an occasion supported by Colonial First State International Asset Administration, Constitution Corridor made its efforts to green-up its property portfolio in 2019, together with the set up of as much as 9MW of photo voltaic and 12MWh battery storage in 15 of its main procuring facilities.
In the meantime, Angie has entered some spectacular and complicated PPAs within the Australian market, together with PepsiCo Australia and mining provider Put on Minerals.
“Progressive, long-term agreements equivalent to this market-leading PPA with Constitution Corridor additionally help funding in new, renewable vitality capability, which is a precedence for Angie,” stated Andrew Hyland, the corporate’s Australia and New Zealand CEO.