Green initiative expands in Sydney
People with property investment in Sydney may be interested in the city's commitment to green initiatives, after it announced a $6 million solar power project in the CBD.
The City of Sydney is punching above its weight in the solar power stakes, ramping up its existing solar panel scheme to include an additional 30 sites over the next two years.
Property investors with stakes in Sydney city commercial property may be interested in the development, potentially spurring their own green initiative.
The eco-friendly scheme, which is additional to the already 18 solar panel fitted sites, will generate 12.5 per cent of electricity needs for City of Sydney properties.
"The City of Sydney is delivering on its commitment to reduce carbon pollution by 70 per cent and produce 30 per cent of its electricity from renewable sources by 2030 - one of the most ambitious programs of any Australian government," lord mayor Clover Moore said.
Under the initiative, the Town Hall House, Redfern Oval grandstand, Sydney Park Pavilion and Railway Square bus interchange will have solar panels installed, as well as town halls, libraries, council depots and community centres across inner city areas.
"The solar PV project produces no pollution when generating electricity - unlike coal-fired power, which is responsible for 80 per cent of our pollution," Ms Moore explained.