Investa has entered into a six-year Energy Services Agreement (ESA) with Origin Energy Electricity Limited (‘Origin’), for its managed buildings, as part of its commitment to net zero emissions across its operations. The ESA is underpinned by the Power Purchase Agreement (PPA) between Origin and Stockyard Hill Wind Farm, which will be the primary source of Large-scale Generation Certificates (LGCs).
Under the ESA, Investa managed buildings in New South Wales and the Australian Capital Territory will procure renewable energy certificates equivalent to ~31.5 GWh of generation annually – enough to supply 100% of projected electricity demands over six years from 2025 to 2031. Consultancy ERM Energetics and legal services firm Ashurst supported Investa in the execution of the agreement.
Since 1 July 2023, Investa managed buildings have sourced 100% of their electricity demand from renewable electricity sources through the purchase and surrender of GreenPower and LGCs. The new ESA with Origin extends the renewable electricity procurement beyond its existing agreements. Investa is Climate Active certified, and the ESA with Origin will allow the company to continue to claim 100% renewable electricity using a market-based approach for the load in NSW and ACT under the Climate Active framework.
Sally Franklin, Chief Operating Officer, Real Estate at Investa said, “Our partnership with Origin continues to provide Investa managed buildings with competitively priced renewable electricity. It will provide the opportunity to continue to address scope 2 carbon emissions, which made up 97 percent of our managed building’s scope 1 and 2 emissions footprint in the baseline year 2015.
“It will also support our ESG strategy in continuing to achieve net zero scope 1 and 2 emissions targets over the next six years. Our investment in renewable electricity procurement is crucial for transitioning our managed funds and buildings to a low-carbon economy, aligning with the Investa management platform’s ESG strategy, Transform Tomorrow.”
James Magill, Executive General Manager at Origin Zero said, “Origin is pleased to be supporting Investa on its journey towards net zero with a tailored energy supply agreement that helps it achieve its emissions reductions targets.”
The ESA builds on Investa’s recent achievement of reaching net zero in scope 1 and 2 emissions for its managed buildings in its core managed funds, including Investa Commercial Property Fund (ICPF) and Investa Gateway Offices Fund (IGO), ahead of its 2025 target. This milestone is one of many actions across the company which will contribute to its goal of being net zero.
For more information about Investa’s ESG strategy, Transform Tomorrow, visit https://www.investa.com.au/esg.
For more information on the Stockyard Hill Wind Farm, visit Stockyard Hill Wind Farm.
