23 November 2017
Adelaide Oval has unveiled a world class audience experience created through a CEFC-financed major lighting upgrade that goes all out to put substantial runs on the energy efficiency scoreboard.
The Adelaide Oval Stadium Management Authority has delivered a $9 million new lighting and sound project, with some $6 million for lighting financed by the Clean Energy Finance Corporation and the Commonwealth Bank, through the Energy Efficient Equipment Finance program.
CEFC CEO Ian Learmonth congratulated the Adelaide Oval Stadium Management Authority on its achievements, which have significantly enhanced the ability to create spectacular light and sound displays while reducing the amount of energy consumed by lighting. The new lights will feature when Adelaide Oval hosts the first ever day-night Ashes Test, starting from 2 December.
"Adelaide Oval has addressed its electricity cost challenge by seeking out energy efficient technology to drive down energy use while improving the game plan of one of Australia's premier sporting venues," Mr Learmonth said.
"Energy costs are a major concern for many Australian businesses. Through our programs with Commonwealth Bank and other co-financiers, we're helping businesses access finance to tackle ambitious energy efficiency projects, so they can achieve energy savings, lower carbon emissions and business transformation.
"The lights installed at Adelaide Oval are up to 35 per cent more efficient than the older technologies they are replacing, which means the new system will go part of the way towards reducing the cost impact of electricity on the Oval's operations."
At an official unveiling, guests were given a demonstration of how the new system will help the stadium remain ahead of the pack, by enhancing the experience for fans and advertisers and delivering lighting that enables high quality picture production for international television broadcast.
Adelaide Oval, which has an audience capacity of 53,500 people, experienced an $800,000 increase in its annual power bill in 2016, and a further $350,000 increase in 2017, prompting it to investigate energy alternatives and energy efficiency measures.
Adelaide Oval CFO Tommy Pavic said: "Funding this project through the CEFC and CBA was an obvious decision as it enhanced the cost savings of the new energy initiatives with additional savings to the cost of finance. The energy efficient equipment finance really helped the business case stack up and ensure a return on investment that satisfies our business requirements."
In an all-South Australian partnership with Kojo, Big Screen Video, Sarah Constructions and Mott MacDonald, the Adelaide Oval upgrade includes:
Project consultants Mott MacDonald estimate the 220 stadium LED lights and the feature LED colour lighting will use around 35 per cent less energy than the lighting they are replacing. The ribbon boards, when compared with a screen of the same area, represent a significant energy saving. The new lights will augment the four existing metal halide floodlights that are fitted to Adelaide Oval's light towers.
The Energy Efficient Equipment Finance program is offered through CBA's extensive business banking network and provides Australian businesses and not-for-profits with a 0.70 per cent discount on finance for a wide range of energy efficient technologies that meet the CEFC's investment guidelines. Eligible technologies include:
Media release, 2017