Pro-invest Group has agreed to lift the design standard of its Holiday Inn Express at Southbank, Melbourne, following a $39 million investment by the Clean Energy Finance Corporation (CEFC).
The construction and term debt facility, part of a co-financing package for the $125 million project, is the CEFC’s first foray into the hotels space, and will see the building target a 5 star NABERS rating, leading to a 25 per cent energy consumption cut compared to business as usual.
The 22-storey mixed use building will include a 345-room hotel along with commercial and retail space.
Pro-invest Group chief executive Ronald Barrot said initiatives that would be targeted included “high performance glazing, high efficiency air-cooled chillers and condensing boilers and solar photovoltaic systems on the hotel’s roof”.
“Other initiatives include regenerative lift drives rather than standard lift motors, which will enable the hotel to recycle energy. Integrated building management and guestroom energy management systems will also mean we can both monitor and drive optimum building energy performance.”
CEFC chief executive Ian Learmonth said the hotels sector was known for being a high energy consumer, due to significant need for airconditioning, refrigeration and hot water services. He said the 25 per cent energy cut would deliver substantial savings that could provide benefits for the hotel and the environment.
“We congratulate Pro-invest on taking the initiative to incorporate energy saving initiatives right from the design phase for this prominent hotel,” he said.
“Together, we are delivering a new standard in hotel energy efficiency, which we encourage other developers to adopt.”
CEFC property lead Chris Wade said investment at an early stage allowed the body to influence design decisions and lead to cost-effective performance improvements.
“We are confident this investment will provide developers and operators with practical insights into how they can lift their energy performance and achieve long term costs benefits by investing in proven clean energy technologies,” he said.
The hotel is set to open by the end of 2019.