Renewable Energy Hub structures innovative renewable energy deal to power Australia’s critical infrastructure and lower green house gas emissions
Melbourne, Australia: Leading software solutions and advisory services provider Renewable Energy Hub today announces it has successfully structured and implemented a first of its kind multi-asset, multi-state PPA agreement which will help decarbonise critical infrastructure by reducing electricity costs and greenhouse gas emissions at key Australian airports, ports, roads and hospitals.
IFM Investors and Queensland Investment Corporation (QIC), have entered into a renewable energy power purchase agreement (PPA) for key infrastructure assets. The agreement, signed with Origin Energy, was designed and delivered by Renewable Energy Hub. The first stage of the deal is for 132 GWh and will save 85,000 tonnes of greenhouse gas emissions annually, with the remaining two stages expected to save another 165,000 tonnes of greenhouse gas emissions annually by 2025 – the equivalent of reducing the carbon footprint of a 100,000-population regional town to zero.
Renewable Energy Hub facilitated the process, bringing its expertise and software tools—the CORE Markets platform—in the structuring of this PPA because of its unique feature set: combining physical and financial market data with powerful analytics. CORE Markets is designed to facilitate price discovery, identify project options, and minimise transaction costs of carbon and clean energy transactions.
The advisory team from Renewable Energy Hub worked collaboratively alongside IFM and QIC from the very early PPA concept stage, through to market process design, and contract execution, supporting all stakeholders at an individual asset level.
Chris Halliwell, co-founder and Head of Markets at Renewable Energy Hub said:
“As the decarbonisation of industry continues to evolve at a rapid pace, our customers are able to rely on the CORE Markets software platform for the most current carbon and energy market insights, providing them the transparency and data they need to decarbonise and reach their net-zero targets.”
About Renewable Energy Hub
Renewable Energy Hub is a decarbonisation technology solutions and services provider. Its CORE Markets software platform provides energy and carbon market participants with access to data, tools and transactions to assist them on their decarbonisation journey.
Renewable Energy Hub is Asia Pacific’s leading clean energy and carbon markets advisory and transactions team, driving liquidity in a full suite of low carbon products supported by innovative technology.
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