Frasers Property Australia has signed a seven-year renewable energy certificate purchase agreement with Origin Energy as part of its commitment to be carbon neutral across its business operations.
The agreement means Real Utilities, Frasers Property’s energy retailing business, will procure renewable certificates that underpin renewable energy supply that is equivalent to the energy demand of its customers and its own operations. In addition to Frasers Property Australia, Real Utilities also supplies carbon neutral energy solutions to Frasers Property Industrial, and the agreement covers residential, retail, commercial and industrial customers of both companies across Australia.
Under the Large-Scale Generation Certificate (LGC) agreement, Frasers Property will purchase 140,000 certificates per year from 2024 to 2030. It will cover 100% of Real Utilities customers’ projected electricity demands, totalling 140,000,000 kWh of energy per annum.
The LGC agreement complies with the Australian Government’s Climate Active Carbon Neutral Standard which provides assurance for electricity customers that their voluntary commitments are matched with renewable energy that is added to the grid on their behalf.
“With Real Utilities, Frasers Property’s energy retail business, we are able to deliver carbon neutral energy solutions, monitor the energy consumption in every building we have introduced Real Utilities and calculate the required off-site renewable energy requirement to neutralise our carbon footprint,” says Paolo Bevilacqua, General Manager at Real Utilities.