Australia’s Clean Energy Finance Corporation invests in biodiesel-fueled mini-grid

In Australia, a Clean Energy Finance Corporation investment of up to A$75 million in Frasers Property’s A$300 million sustainability linked loan (SLL) will help deploy clean energy technologies in two Australian industrial projects that will reduce embodied carbon, cut operating emissions and deliver zero carbon energy electricity for tenants at no additional cost.

Innovative distributed energy generation models will be installed at Rubix Connect in Victoria and The Horsley Park Estate in New South Wales to deliver carbon neutral electricity through onsite solar, battery storage and a biodiesel generator. Frasers Property energy retailer Real Utilities will provide Climate Active certified carbon neutral electricity to the properties’ common areas and its tenants.

The CEFC investment is made on behalf of the Australian Government. Under the terms of the SLL, Frasers Property will receive a lower interest rate by targeting a minimum 4-star GRESB rating on its development and standing investment Australian properties. Barclays is acting as Sole Sustainability Coordinator.