A new power purchase agreement (PPA) involving key Australian airports, roads, ports and hospitals across multiple states will reduce electricity costs and greenhouse gas emissions.
IFM Investors and Queensland Investment Corporation (QIC), have entered into the renewable energy power purchase agreement for key infrastructure assets.
The agreement, signed with Origin Energy, was designed and delivered by Renewable Energy Hub.
The first stage of the deal is for 132GWh, and will save 85,000 tonnes of greenhouse gas emissions annually, with the remaining two stages expected to save another 165,000 tonnes of greenhouse gas emissions annually by 2025 – the equivalent of reducing the carbon footprint of a regional town of 100,000 people to zero.
The advisory team from Renewable Energy Hub worked collaboratively alongside IFM and QIC from the very early PPA concept stage, through to market process design, and contract execution, supporting all stakeholders at an individual asset level.
Chris Halliwell, co-founder and Head of Markets at Renewable Energy Hub said, “As the decarbonisation of industry continues to evolve at a rapid pace, our customers are able to rely on our CORE Markets software platform for the most current carbon and energy market insights, providing them the transparency and data they need to decarbonise and reach their net-zero targets.”