The University of Sydney will become the latest tertiary institution to make the switch to 100 per cent renewables after striking a deal with Snowy Hydro’s retail arm.
The university, Australia’s oldest, has signed a five-year agreement with Red Energy to purchase power from its renewable energy projects.
Through the deal, the university’s electricity consumption will be “matched” with output from Red Energy and Snowy Hydro’s renewable generation portfolio, with associated renewable energy certificates surrendered by Red Energy.
The supply deal covers the University’s campus in Sydney, as well as electricity consumed across the student accommodation run by the university.
The university said the deal would reduce its greenhouse gas emissions footprint by the equivalent of taking 31,200 cars off the road and would help it progress towards a target of reaching zero net emissions by 2030.
USYD Vice-chancellor, professor Mark Scott, said the commitment to purchase renewable electricity supplies meant the university would deliver on a target to transition to renewable electricity supplies three years ahead of schedule.
“We are making the move to 100 per cent renewable electricity three years before our target of 2025,” Scott said.
“This agreement will power our research and teaching while reducing emissions. We are delighted to be working together with Snowy Hydro and Red Energy to achieve the ambitious energy targets set out in our sustainability strategy.”
“We know reducing emissions to combat climate change is a priority for our staff and students and we are committed to embedding sustainability in every aspect of University life,” Scott added.
Snowy Hydro CEO Paul Broad said the company was able to offer renewable energy supplies by drawing upon its portfolio of wind, solar and hydroelectricity projects.
“At Snowy Hydro, we have lived, breathed and delivered renewable energy to Australians through the mighty Snowy Scheme for generations,” Broad said.
“We are committed to continuing this legacy and leading the charge to a renewable energy future by working with large institutions like the University of Sydney.”
“Combining our contracted wind and solar energy with our on-demand hydro assets allows us to provide reliable and 100 per cent renewable electricity to the University.”
USYD’s deal follows similar commitments that have been made by a range of Australian universities to source all of their power from renewable energy sources.
This includes the University of Queensland, Swinburne, Charles Sturt and Macquarie universities, which have switched to renewable power supplies through a mix of direct investments in generation projects and power purchase agreements.
