CleanPeak Energy is proud to announce it has entered into an agreement with the NSW Government that guarantees Barangaroo remains carbon neutral until at least 2050. The $48 million landmark Green Product Purchase Agreement (GPPA) will see CleanPeak Energy building at least four new solar farms in regional NSW that will supply Renewable Energy Certificates (or “Green Products”) to offset Barangaroo’s Scope 2 emissions for an unprecedented 25 years.
Barangaroo’s Scope 2 emissions stem from the consumption of grid-supplied electricity by businesses and tenants within the precinct. The new Green Products generated as part of this transaction will contribute to achieving net-zero at Barangaroo for the next 25 years by offsetting the energy consumption for all the office towers, residential apartments, retail shops and restaurants in the precinct.
Under the Green Product Purchase Agreement (GPPA), CleanPeak Energy will develop at least four new solar farms in regional Australia. These new solar farms will add over 50 GWh of clean energy to the State’s renewable energy supply, directly contributing to achieving the NSW Government’s net-zero plan. Construction of the first two solar farms will commence in early 2024 near Moama and Hay, with additional projects to follow in mid-2024 once planning and regulatory approvals have been acquired.
These solar farms are a continuation of CleanPeak Energy’s strategy to develop new projects which are contracted to both businesses and governments seeking tailored solutions to reduce their carbon emissions and reach net-zero faster.
Barangaroo South is a thriving and sustainable mixed used precinct, which has been developed by Lendlease. The precinct has received carbon neutral certification from the Commonwealth Government’s Climate Active Program for four consecutive years. This agreement marks another significant milestone towards carbon neutrality and a climate positive future. Existing initiatives at Barangaroo South include on-site solar, a recycled water treatment plant, cost effective and energy efficient air conditioning delivered by a District Cooling Plant, a maggot farm to help manage food waste and a rooftop garden on Daramu House, to name a few. Through the agreement, CleanPeak energy will supply green products to Infrastructure NSW at a fixed rate, helping to fulfill Barangaroo’s commitment to being Climate Positive.
Source:
