Earth Day 2025: How IP Generation is set to deliver greener shopping centres

IP Generation has begun the process of installing over 12,000 solar panels across four shopping centres in Victoria and New South Wales.

IP Generation, in partnership with CleanPeak Energy, have almost completed the installation of integrated solar and battery systems across four of IP Generation’s shopping centres located in Cessnock, Craigieburn, Goulburn and Mildura.

Works have already wrapped up at Craigieburn Central, which saw the installation of 5,371 solar panels across the centre’s five buildings, and over 5 MWH of battery capacity located in unused space within the loading docks. The system will generate enough clean energy to power over 736 homes annually, with a carbon offset equivalent to planting 165,892 mature sized trees.

In total, the combined capability of these systems will supply more than 6,500 MWh of power across the portfolio and account for approximately 80% of the consumption at each centre, with the overall aim to support tenants to utilise 100% renewable electricity supply.

Chris Lock, Founder and CEO, IP Generation, said: “Our partnership with CleanPeak extends IP Generation’s commitment to reducing carbon emissions and improving the environmental performance of its assets. We forecast a ~5,000 tonne reduction in the carbon footprint across the IP Generation portfolio once the systems are fully operational, which is a great result for our assets.”

The agreement with CleanPeak will allow IP Generation to convert a variable electricity revenue stream into a long-term annuity through long-term rooftop licences and the outsourcing of each centre’s embedded network.

Tom Klemens, Assistant Fund Manager, IP Generation, said: “This rollout is a core part of our long-term investment strategy, delivering both environmental and financial value across the portfolio.

“By integrating embedded networks with solar and battery systems, IP Generation is able to generate stable, contracted energy revenue enhancing asset-level income, driving valuation uplift and aligning with the growing ESG expectations of capital partners and tenants alike.”

Looking to the future, IP Generation is actively looking to expand its solar and battery program across other assets within the portfolio and remains focused on scaling its renewable energy infrastructure to deliver both ESG and financial outcomes.