Australian Airports Join A$700m Renewable Energy Pact [Financial Post (Toronto, Ontario, Canada)]
IBERDROLA SA S/ADR (IBDRY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Two airports and a major port in Australia have signed up to a A$700 million ($467 million) renewable energy pact, the country's largest such program covering multiple states and sectors. The power purchasing deal covers Sydney and Adelaide airports, the port of Melbourne, oil and gas company Lochard Energy Group Plc, and a network of medical and health facilities across the country. Article content Clean energy firms Iberdrola SA and Squadron Wind Energy Development Pty are set to join others in supplying 500 gigawatt hours of power a year under agreements ranging from seven to nine years. IFM Investors Pty and QIC Ltd., two of Australia's largest infrastructure funds, helped broker the deal, which is in its final stage, as investors race to cut emissions across their portfolios. The government has proposed new laws to be phased in from next ye
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