A new financing mechanism has enabled $26.5m to be allocated to a ground-breaking trigeneration scheme in Sydney, Australia.

Australia’s largest ever Environmental Upgrade Agreement (EUA) means investment in trigen at the city’s Central Park Development on Broadway.

This will be Sydney’s first low-carbon precinct and the largest EUA, in dollar terms, so far signed in Australia.

The City of Sydney’s Frasers Property and Eureka Funds Management are providing the finance for the installation, which is aimed at reducing carbon pollution in Sydney by 2030.
Niall McCarthy director of Eureka Funds Management, City of Sydney Lord Mayor Clover Moore, Frasers Property CEO Guy Pahor
Four thousand future residents of the Central Park development will be supplied with low-carbon thermal energy under an innovative new green finance agreement signed with the City of Sydney.

The project involves the installation of a highly-efficient, gas-powered trigeneration plant that aims to slash carbon emissions at the Broadway development.

Lord Mayor Clover Moore (pictured centre with Niall McCarthy and Guy Pahor) said, “It’s good to see Frasers take advantage of the smart, cheap financing now available to pay for new technologies that can dramatically reduce carbon emissions.”

“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.”

Frasers will use the EUA funding to install 2 MW of trigeneration capacity, running on natural gas and producing low-carbon thermal energy, and providing heating and cooling for 3,000 residences and 65,000sqm of retail and commercial space in 14 buildings at Central Park.

Work on the new trigeneration energy system is now underway and will be completed and commissioned by December.

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