ISPT participates in Melbourne Renewable Energy Project
ISPT is participating in the second Melbourne Renewable Energy Project (MREP2), a game-changing collaboration to support renewable energy in Australia. The initiative aligns with our broader responsible investing approach and is a key element of our response to climate change.
A multi-million dollar deal
We’re working with the City of Melbourne and seven large energy users by combining our purchasing power to support wind energy produced in regional Victoria. We’ve secured a long-term electricity contract that delivers value for our Investors, while significantly reducing carbon emissions across our portfolio. From July 2020, all the electricity ISPT procures for our Victorian portfolio will have a carbon neutral footprint.
Building positive outcomes
Together with our National Solar PV Project, our participation in MREP2 forms part of our broader program to reduce reliance on fossil fuels and provide reliable and low carbon energy for ISPT and our customers. Our participation will see 22 properties benefiting from renewable energy, including Barkly Square, Melbourne’s GPO, Casselden and 271 Spring Street.
Alicia Maynard, General Manager of Sustainability and Technical Services says our involvement is one of the ways we’re building positive outcomes for our environment.
“ISPT takes great care to mitigate and manage the impacts of climate change and we’re excited to be collaborating with leading universities and business to support renewable energy in Victoria. We’ll be using the knowledge gained from this project to expand the procurement of renewable energy to other cities and states across our portfolio.”
Facilitated by the City of Melbourne, the MREP2 group includes Cbus Property, Citywide Asphalt Group, Deakin University, Fulton Hogan, Mondelez International, and RMIT University. By supporting renewable energy in the national grid, we’re helping transition Melbourne to a reliable clean energy future.
For more information and to see the full list of participating ISPT properties, click here.