- $75 million debt facility to aid Ingnia's carbon reduction and energy initiatives
- The funding will come from Clean Energy Finance Corporation
- The seven-year facility will help Ingenia with their carbon neutral target of 2035
Ingenia Communities Group has received $75 million debt facility support that will aid in the goal of a 30% reduction in carbon emissions in the next five years. This funding to be invested by the from the Clean Energy Finance Corporation (CEFC) which runs on behalf of the Australian government.
Ingenia Communities owns, operates and develops communities across Australia. These include retirement, rental and holiday accommodation. They have a particular focus on the market for senior residents.
Buildings source half of Australia’s electricity use and close to a quarter of all emissions according to Ian Learmonth, CEFO’s CEO. He says “If we can reduce energy use from the residential property sector and curb its emissions, we will make significant advances in our decarbonisation efforts, as well as produce more sustainable housing.”
“Cleaner, greener homes produce fewer emissions, and they also cost less to heat and cool. Through this investment we are extending the economic benefits of clean energy technologies to residents of affordable housing through lower energy bills.”
With the target of a carbon neutral operation by 2035, Ingnia already has some sustainability initiatives. They have a focus on increasing efficiency through installing solar panels, the use of LED lighting and opting for more efficient water systems and air conditioners.
Simon Own, CEO of Ingenia, says cleaner technologies will inevitably benefit residents through lower energy bills.
“As our portfolio and business matures we want to be at the forefront of developing more sustainable communities, providing our residents with affordable homes, lower energy costs and liveable communities that will enhance their quality of life.”