CEFC supports the University of Melbourne's clean energy goals

The Clean Energy Finance Corporation is lending up to $9.1 million to the University of Melbourne to finance a number of energy reduction and generation projects. The news was announced by Environment Minister Greg Hunt at the university’s Parkville campus yesterday.

The CEFC’s executive director – corporate and project finance, Paul McCartney, noted that universities “make a major contribution to the national economy and to the Australian community”. Unfortunately, they also consume significant amounts of energy in the delivery of their services to students and their communities through operating large campuses and facilities.

With 47,000 students, the University of Melbourne alone has the energy requirements of a town the size of Warrnambool. Yet the university is working to reduce its emissions of greenhouse gases, cut energy use and adopt more renewable and sustainable energy sources, with a goal of carbon neutrality by 2030.

McCartney said the CEFC’s finance will enable the University of Melbourne to accelerate its implementation of energy-efficient and renewable energy technologies such as voltage optimisation, freezer upgrades, solar PV, solar thermal and roof-mounted micro-turbines. The university expects these to reduce its grid electricity use by 8% and to deliver carbon emissions abatement of over 9000 tonnes per year on project completion.

“The CEFC is looking to work on similar innovative projects with other Australian universities to help them achieve increased sustainability through energy-efficient and renewable technologies that reduce energy costs,” McCartney said.

“We see enormous potential for this important economic sector to increase its productivity and economic impact while reducing emissions through the introduction of clean energy technology.”