EUA upgrade enables 30 percent energy savings
A retrofit of a Suleman property development group office block in Melbourne using environmental upgrade agreement finance should see the company gaining a 30 percent saving in energy costs.
Environmental upgrade agreement (EUA) finance through Low Carbon Australia, National Australia Bank and Eureka Funds Management will enable the Suleman property development group to make a 30 percent saving on energy costs for a 15-storey office block in Melbourne.
Built in 1970, 470 Collins Street is a 15-storey office block in one of Melbourne’s most sought-after business locations. It is targeting an energy cost reduction of 30 percent by carrying out $720,000 of energy efficiency improvement. The project involves installing a new cooling tower, two new efficient condensing systems, a new building management system and energy efficient lighting.
“This upgrade will help better position the property in the marketplace by reducing energy costs, improving the building’s environmental performance and is great for tenants, which include Timothy Lewis Pharmacy, McDonald’s, TP3, Ross Human Directions, DMR Corporate & Burnet and Intralink Financial Solutions,” Sam Suleman, the building’s owner, comments.