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Property News

Trigeneration funding boost for commercial and residential property

June 19, 2012

Residential and commercial property owners are both set to reap the eco-friendly benefits of the City of Sydney's new large-scale trigeneration network, which has just received a further cash injection from the federal government.

An additional $5 million has been pledged to support the scheme by parliamentary secretary for climate change and energy efficiency Mark Dreyfus and Greg Combet, the minister for climate change and energy efficiency.

According to City of Sydney lord mayor Clover Moore, the network - which she claims will double the efficiency of traditional coal-fired power - will play a crucial role in the city's long-term environmental goals, which include slashing carbon emissions by 70 per cent by 2030.

"The City's trigeneration network will drastically improve energy efficiency and reduce carbon pollution. Households and businesses connected to the network will get a cleaner and cost-competitive alternative to the rising cost of coal-fired electricity," she said.

The additional federal government funding will be put toward two trigeneration projects - the Prince Alfred Park Pool and Town Hall House.

In total, plans are in place to establish a total of four trigeneration 'zones' across the City of Sydney -CBD North (Martin Place and George Street), CBD South (the Town Hall Precinct), Green Square and the Pyrmont/Broadway area.

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