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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.

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