Strategic partnership with Energy Locals provides cost savings to tenant customers

16 May 2024

Barings Real Estate Australia is committed to investing responsibly and enhancing investment performance.

Over the past several months, the Barings team have been working tirelessly to forge a strategic partnership with Energy Locals, a key player in the energy solutions industry, to implement an integrated embedded network strategy into the residential portfolio which focuses on reducing emissions and maximising renewable energy use.  This is a great win for tenants and the community and allows the building to influence green energy decisions.

The first embedded network was implemented at Dickson Village Apartments early this year, Canberra’s first Build to Rent (BtR) quality apartments as owned by Aware Real Estate. The cutting-edge solution incorporated into the project includes 39.6kW of solar PV supplied and installed by Energy Locals, together with four EV charging stations. The embedded network allows tenants to access offsite renewables, aligning with a Net Zero plan that addresses tenant emissions.

Tamara Williams, Head of ESG, Barings Real Estate Australia, said:

“We are thrilled to be working with Energy Locals to deliver these cost savings to tenant customers across our portfolio, whilst allowing the measurement and reduction of Scope 3 emissions. The launch of the project is across the residential portfolio, whilst looking for opportunities across other sectors of the Barings portfolio. We have been working hard on a solution for our customers, Energy Locals was perfectly aligned.

Julie Duggan, Head of Community Energy Networks Energy Locals said:

“At Dickson Village Apartments, Aware Real Estate are making a positive shift away from traditional retail energy providers, with the innovation and expertise of using Energy Locals to manage electricity, solar PV and electric vehicle chargers. This development should be considered the new norm”.

It’s also great to hear our clients at Aware Real Estate are equally excited about this partnership. Emma Thomas, Head of ESG, Aware Real Estate said:

“Thank you to Barings for facilitating this initiative. This partnership offers great savings to our residential tenant customers during a difficult period of rising living costs and a housing affordability crisis.