Australia: IFM, QIC seal largest multi-state renewable energy PPA worth 500GWh per annum
- Admin
- Jun 13, 2024
- 1 min read
Investment Fund Managers (IFM) Investors and Queensland Investment Corporation (QIC) have signed power purchase agreements (PPA) worth AU$700 million for 500GWh of renewable energy per year in Australia. The agreements are part of the Australian Infrastructure Renewable Energy Program (AIREP) to decarbonize critical infrastructure assets. Various assets such as Port of Melbourne, Sydney Airport, and Adelaide Airport are included in this program. Companies like Iberdrola and Squadron Energy are chosen as energy suppliers. The program aims to reduce the carbon footprint of infrastructure assets and decrease exposure to energy market volatility.
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