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CEFC injects energy efficiency into Barwon healthcare portfolio

Barwon healthcare portfolio
Location
National
Investment
Property
Category
Energy efficiency

Green prescription for healthcare facilities

CEFC finance will help Barwon Institutional Healthcare Property Fund improve the energy efficiency and comfort of a range of healthcare and medical facilities around Australia.

The CEFC has an $80 million equity stake in the Barwon Institutional Healthcare Property Fund. The Fund has 14 healthcare property assets across Australia and is planning to acquire more.

Improved energy performance

The CEFC investment will improve the energy performance of existing assets to achieve carbon emissions reductions of about 40 per cent when compared with the Council of Australian Governments (COAG) Baseline Energy Consumption in commercial buildings.

Measures include rooftop solar, energy efficient Heating Ventilation and Air Conditioning (HVAC) systems, lighting upgrades and building monitoring systems. 

 

14
healthcare properties
40%
emissions improvement

The Barwon portfolio covers sites in Victoria, NSW, Queensland, ACT and WA, with a presence in regional Australia in Mackay and Gosford. It ranges from private hospitals to oncology services, pathology laboratories and mental health facilities. 

 

Somerset Specialist Centre in Penrith, NSW is already under construction. The four-storey facility will include radiation oncology and is targeting a 4.5 star NABERS energy rating.

RS2283 Somerset Specialist Centre Render 0619 Scr

The Deakin Clinic in Canberra is a 50-bed psychiatric facility that will fill a much-needed gap in mental health services in the ACT.

RS2285 Deakin Option 1 Day Scr

Portfolio emissions targets

This will enable us to introduce energy emission reduction measures in sites across Australia, and show the rest of the sector how to combat the energy-intensive nature of healthcare real estate.
Tom Patrick
Barwon Investments Partners

Based on targeted outcomes, the improvements to the portfolio are expected to deliver reductions of just under 6,000 tonnes of carbon emissions annually or just over 100,000 tonnes of abatement over the expected lifetime of the equipment. 

That is the equivalent of removing around 1,270 passenger vehicles from the roads each year or the electricity use of about 1,000 homes each year.

The CEFC equity is part of a broader $375 million capital raising which involves several large Australian superannuation funds.

 

National, Property, Energy efficiency