1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar

Property News

Commercial property in Sydney could be taken off the coal grid

December 06, 2011

The capital city of New South Wales is set to receive a new energy scheme, according to the office of its lord mayor.

Clover Moore has released a statement regarding a fresh round of negotiations with utilities provider Cogent Energy that could see commercial property in Sydney reduce its reliance on coal-powered electricity stations.

"Our aim is to take most, if not all, of city buildings off the coal fired grid as part of our 2030 goal to cut carbon emissions by 70 per cent," said Moore.

"The city is moving closer to turning this ground-breaking project into reality - initiatives like our trigeneration network will ensure that Sydney remains one of the world's leading green cities in the race to address climate change."

The lord mayor went on to explain that - while a number of initiatives by companies such as GPT Group, Stockland, Investa and Westfield were already making use of these innovative, low-emission plants, the council has plans to extend their use to power entire city blocks, in much the same way as commercial properties are in Europe, and the US.

Research from the University of Technology Sydney has shown that these initiatives have the capacity to save approximately $1.5 billion in capital expenditure on new coal-fired power stations.

Related Articles

State of the real estate states

When it comes to economic performance, it is traditionally the resource states that are the ...
read more

Where do Australians like to go to the beach?

Australia is world famous as a beautiful holiday destination for overseas tourists - from the ...
read more

Former industrial precincts to become residential hubs

The New South Wales government has announced plans to turn two former industrial areas in north ...
read more

Latest Articles

Mapping out a shift in foreign investment targets

With recent changes to the foreign investment framework introduced by the federal government, ...
read more

State of the nation unveiled in latest report

Each quarter, Commsec releases the State of the States report, which judges each state and ...
read more

Steady as she goes, says the RBA

Many economists and financial commentators have spent the past weeks predicting an Easter gift from ...
read more