Yurika’s customer was Queensland Investment Corporation (QIC), an Australian-owned multi-asset investment company dedicated to delivering profitable investment outcomes for their clientele.

Part of QIC’s portfolio includes ownership and management of retail shopping centres across the country. They were looking to partner with an experienced energy services company to realise cost savings and deliver on their commitment to sustainable energy solutions.

Shopping centres are continuously evolving – changing the physical structural requirements of their asset as well as energy needs as their retailers’ needs also progress. Hence, for the client, the solution had to be flexible to allow modification as required.

QIC didn’t want to spend upfront capital and didn’t want to have to manage the system. They also needed an energy partner who understood the energy market and could proactively recommend solutions to maintain operational excellence.

To meet the ever-evolving needs of shopping centres, the Yurika team delivered a Smart Connected Solar system through a power purchase agreement (PPA). A PPA allows the client to purchase generated electricity from panels connected to their site without any initial capital expenditure. The Yurika team manages the output of the solar system, ensuring production is in line with contracted performance levels, allowing the customer to focus on managing their business. If energy is not produced, Yurika is not paid, and the customer doesn’t receive the benefit of purchasing energy at a lower price than what they would pay for electricity from their electricity retailer. It is therefore in Yurika’s and the customer’s best interests that the system performs well, and the contract has been constructed to enable negotiation for alterations to ensure both parties succeed.