Engie inks renewable PPA with Aussie property manager Charter Hall

Australian property investment management company Charter Hall Group will procure wind and solar electricity from Engie Australia & New Zealand as part of a plan to switch to 100% renewable energy to power its operations.

The companies have signed a power purchase agreement (PPA) that will see Charter Hall receive 151 GWh of electricity annually for 152 of its properties over a seven-year period, the Aussie firm said on Wednesday. The contracted power volume is equal to the electricity consumption of about 26,000 average homes per year.

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The deal will come into effect in 2024.

The solar and wind generation will come from a mix of local projects, including Engie’s 119-MW Willogoleche wind farm in South Australia and the 214-MW Woolooga photovoltaic (PV) farm in Queensland of Lightsource bp. The other sites are yet to be announced.

“Not only will this PPA reduce Charter Hall’s carbon emissions by 70 per cent when the partnership becomes active in 2024, it will also ensure we remain on-track to reach net zero carbon in operation (Scope 1 and 2), on or before 2030,” said Charter Hall’s managing director and CEO David Harrison.

The Aussie property investor is seeking to power all of its sites solely with renewable energy by 2025. The company is also investing in solar projects and has 41 MW of installed capacity, according to its 2021 sustainability report.