Sydney’s Canterbury Hurlstone Park RSL Club has undertaken a five-year Energy and Facilities Master Plan designed to deliver sustainable and energy efficient facilities for members and guests. The early stages of the Master Plan included the installation of a 505kW Tri-generation System and a HVAC upgrade that includes new chillers and a centralised air conditioning loop. The challenge for the Club was funding the Tri-generation System and HVAC upgrade so that the energy savings gained would achieve positive net cash flows as early as possible, without using up existing capital earmarked for other aspects of the Master Plan.
Northquest provided a long term financing solution for both the Tri-generation System and the HVAC upgrade. The Tri-generation System financing was provided as a long-term structured lease, giving the Club a positive cash flow from energy savings achieved by the Tri-generation System. Northquest worked closely with the Club and Simons Green Energy to structure a flexible and robust solution that met the demands of a complex project.
The HVAC upgrade was financed by a long term unsecured lease, which minimised the impact on the Club’s cash flows through efficiencies gained from the upgrade.
Northquest’s solutions for the Club provided long term unsecured financing that preserved the Club’s capital and cash flows to assist with its Master Plan to save energy costs.
