New green bonds initiative to support Melbourne Water projects

Wednesday 20 July 2016

​Melbourne Water’s commitment to a more sustainable and liveable Melbourne was recognised today, with a number of its green energy projects listed under the Treasurer of Victoria’s new green bonds initiative.

The initiative, developed by the Treasury Corporation of Victoria, was created to support investment in projects that have positive environmental and climate benefits, with specific guidelines around their classification developed by a number of independent monitoring and standards bodies, such as the Climate Bonds Initiative, Green Bond Principles and Green Bond Indices.

The announcement was made at Notting Hill Reservoir, where Melbourne Water runs a hydro-electric generator that produces energy from the water flowing through the supply network.

This is an example of a project that would be eligible to be supported through green bonds.

There are nine such generators (called ‘mini hydros’) across Melbourne’s water supply system, which generate 61,000 Megawatt hours of electricity each year – enough to power 9,000 households.

Melbourne Water Managing Director, Michael Wandmaker, said the organisation had been investing in renewable energy projects across its key sites, including the Eastern Treatment Plant and Western Treatment Plant, to help make essential operations more environmentally and financially sustainable.

“We’re proud to say that for the third year in a row, Melbourne Water’s water supply network has generated more electricity than it used, a significant achievement for a network of more than 1,051 km of water mains supplying water to more than 4 million people,” said Mr Wandmaker.

“On the back of the success of our existing mini hydros, we are currently constructing five additional mini hydro plants and investigating the feasibility of an additional eight.

“Projects like this are a great example of how we can continue to deliver high quality, reliable services to the city of Melbourne while minimising costs to our customers and impacts on the environment, and show what the green bonds initiative can support into the future.”

In addition to the mini hydros, Melbourne Water captures biogas from the waste treatment processes at both the Western Treatment Plant in Werribee and Eastern Treatment Plant in Bangholme, and uses it to power the plants.

These power stations provide 40% of the electricity required for treatment processes, and together with the hydro sites, generate enough power to supply almost 20,000 Victorian households per annum.

For more information about the green bonds initiative, please see the media release from the Treasurer of Victoria.

 
Media contact: Anushia Bleazby (03) 9679 7152; 0467 806 306
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