Trigeneration Precinct Sydney-North Sydney

(Level 18, 40 Mount Street, North Sydney)

Thank you and good morning, everyone. I would like firstly to acknowledge the traditional owners, and pay my respects to the Elders, both past and present. I would also like to acknowledge the Hon Chris Hartcher, Minister for Resources and Energy; Genia McCaffery, Mayor of North Sydney; Scott Macdonald, chairman and CEO of the Investa Group; Origin Retail General manager, Phil Craig and Origin Executive General Manager Energy Markets, Frank Calabria.

This is an historic occasion and I'm delighted to congratulate Investa and Origin for showing how a commercially viable tri-generation precinct can benefit building owners, their tenants, and the city as a whole.

While we have several examples of stand-alone trigeneration already in our CBD, this is the first networked system to come into operation and as such, it's the precursor to the city-wide trigeneration network we are working on making a reality.

If we are to seriously reduce - and I believe we must - our carbon footprint and make Sydney a leader in the 21st century green economy, then we must look at trigeneration and we must start to show just how effective it is, in terms of saving costs and saving carbon, and today, Investa and Origin have started doing just that.

The City is now looking to select a company by mid-year to install trigeneration in our own buildings. To gain extra efficiencies, and to lower greenhouse gas emissions even further, it will include the full infrastructure of a thermal pipe network to provide cheaper heating and air-conditioning.

It is an important step forward for us in managing our extensive and varied property portfolio - everything from commercial buildings to swimming pools to heritage buildings like Town Hall will all be linked to a trigeneration system.

More importantly, these systems will serve as the basis for future connections to privately-owned buildings, allowing us to reduce Sydney's carbon footprint, reduce costs for property owners and give Sydneysiders what they overwhelmingly told us during our 2030 consultations that they want - a green, global and connected city. 80% of emissions come from cities.

Once again, I'd like to congratulate Investa and Origin on this great step forward.

Thank you.