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Increasing the role that solar energy and battery storage technologies play in reducing emissions in our Shopping Centre Retail portfolio has been a key focus over the past five years.
In FY22, Charter Hall continued its partnership with CleanPeak to deliver renewable electricity solutions to a number of our retail properties, improving their sustainability credentials and delivering price certainty in a backdrop of volatile energy prices.
To complement the existing solar installations across the portfolio as part of a Power Purchase Agreement with CleanPeak, battery installations have now been completed at Lansell Square, Leopold Plaza, Campbelltown Mall and Singleton Square. The total capacity is 3.0MW with an operating battery storage capacity of 6.5MWh. Batteries capture excess solar generation and discharge during periods of high demand, reducing the impact and reliance on the grid during these periods and improving overall grid stability.
Each solar and battery system has been designed to meet the needs of each site and are monitored and optimised in real-time to ensure the maximum benefit is being delivered. Between March and June 2022, batteries increased onsite solar usage by 10 percent and reduced peak demand by 34 percent across the four retail properties. Safe and secure operation is a priority, particularly fire safety and the sourcing of components. CleanPeak looks to source components responsibly with consideration of associated human rights risks.
The batteries also contribute to enhancing overall grid stability. Any excess solar generation is used to charge the batteries, thereby regulating the discharge of electricity in the grid. Ongoing monitoring and optimising of the batteries will further reduce peak demand and provide associated costs savings. Building on the success to date, 7.5 MWh of additional batteries are scheduled to be installed at four additional retail locations in FY23.