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

Part of our client’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.

Challenges

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 our 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.

Yurika’s Smart Connected Solar system through a power purchase agreement (PPA) located at Robina, Queensland

Solutions

To meet the ever-evolving needs of shopping centres, we delivered Yurika’s Smart Connected Solar system through a power purchase agreement (PPA). A PPA allows our client to purchase generated electricity from panels connected to their site without any initial capital expenditure. Our team manages the output of the solar system, ensuring production is in line with contracted performance levels, allowing our clients to focus on managing their business. If energy is not produced, we are not paid, and our client 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 our and our client’s best interests that the system performs well, and the contract has been constructed to enable negotiation for alterations to ensure we both succeed.

Yurika team managing the output of the solar system

Outcomes

We constructed 15MW of Yurika’s Smart Connected Solar systems across five sites in our client’s portfolio. Our proven technology and innovative energy solution are delivering:

  • Reduced energy bills
  • Green energy to help our client meet their C02 reduction targets
  • Data to help our client manage their energy consumption
  • Benefits to the environment with a fully sustainable solution
  • Significant savings for our client, with more to come as the system, is rolled out across their portfolio.

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