Sydney Central Park to get green energy infrastructure center

Last week, the City of Sydney signed an Environmental Upgrade Agreement (EUA) with Frasers Property and Eureka Funds Management to build a mixed-use, green energy infrastructure housing development.

The $2 billion plan is funded through a new, innovative green financing agreement, which will be used to supply the site with low-carbon thermal energy from a highly efficient trigeneration plant. Powered by low-emission natural gas, the 2-megawatt plant will provide heating and cooling services and electricity to 3,000 residences, as well as to 14 retail and commercial buildings located at Central Park.

Sydney Low Carbon Precinct 1

Outside the Brewery Yard Building at Central Park where the trigeneration plant is located:
Chairman, Low Carbon Australia Martijn Wilder, Frasers Property CEO Guy Pahor, ANZ, Global Head of Commercial Property, Eddie Law , City of Sydney Lord Mayor Clover Moore, Sekisui House General Manager Atsuhide Segushi, Niall McCarthy director of Eureka Funds Management.

Lord Mayor Clover Moore hopes this will encourage the private sector to participate in building a greener future for the city by taking advantage of what she calls “smart, cheap financing.”

“This is the first environmental upgrade agreement the City has signed, but hopefully we will soon be part of many more of these voluntary agreements, delivering great results for business and for the community.”

The private partners call the partnership “the first step into a greener future for Sydney” and “a model of environmental standards,” citing the development as an urban regeneration project that will pave the way for more large-scale, mixed-use projects in the future.

The trigeneration plant, which will provide electricity not only to the Broadway site, but also to the nearby Clare Hotel and Brewery Yard building, is projected to reduce greenhouse gas emissions by 190,000 tonnes over 25 years.

This is Sydney’s first EUA, and sets the record for the largest – in terms of price – that has been signed in Australia to date.

For more information on EUAs and the Central Park agreement, click here.

Sydney Low Carbon Precinct 2

Inside the trigen plant room: Niall McCarthy director of Eureka Funds Management, City of Sydney Lord Mayor Clover Moore, Frasers Property CEO Guy Pahor