Port of Melbourne commits energy needs to renewables

The Webb Dock East precinct has undergone an extension at the Port of Melbourne.

A recently signed agreement is reportedly going increase reliance on renewable sources at the Port of Melbourne.

The Power Purchase Agreement (PPA) with Iberdrola Australia Energy Markets commenced on 1 July 2024, enabling Port of Melbourne to obtain more than 60 per cent of its electricity needs from renewable sources, such as Victorian-generated solar and wind.

The PPA will run until the end of June 2031.

This agreement contributes to the Port’s target of achieving net-zero emission for Scope 1 and 2 port operations by 2030, in support of the Victorian Government’s commitment to net-zero by 2050.

“With more than half our electricity soon to be sourced from renewable sources, we are continuing work to transition the remaining 40 per cent,” said Port of Melbourne CEO Saul Cannon.

Through short-term Green Power agreements, Port of Melbourne is looking to increase its usage of renewable energy, dedicating to source 100 per cent of its business operations’ electricity needs from renewables by June 2029.

“We are also transitioning our corporate vehicle fleet and marine survey vessel to electric or zero-emissions fuel technologies,” added Cannon in a statement.

The PPA signing follows a series of sustainability milestones attained by the Port, including the completion of a $475-million sustainability linked loan.

Port of Melbourne has also been ranked first among Australian and international ports in the 2023 Global Real Estate Sustainability Benchmark (GRESB) Infrastructure Asset Assessment.

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