Australia government-owned clean energy finance corporation CEFC has issued an A$80m (€50m) green loan to Mulpha Australia to support the developer’s target to cut energy costs by as much as 50% in a residential project in the northwest of Sydney.
CEFC’s capital is being matched by an A$80m green loan from ANZ Bank.
Mulpha plans to build a 196 “net zero-ready apartments” in the first stage of the Norwest Quarter project, which would be powered by renewable energy.
CEFC CEO, Ian Learmonth, said that the project showcased how low-emission buildings and further development of the circular economy could be achieved with existing technology.
Greg Shaw, Mulpha Australia CEO, said: “As a major property developer, investor and manager we are committed to sustainable finance and design principles because this is good for the environment and it’s good for all our stakeholders – being the communities in which we operate – our investors and our business partners.”
Jo Scotney a general manager in charge of institutional property and health at ANZ, said: “This is an excellent project to be involved in as we’ve worked with Mulpha to help develop their inaugural Sustainable Finance Framework, which aims to help accelerate Mulpha’s sustainable developments and strategy.”
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