UPDATE – Victorian EUA legislation

UPDATE – Yesterday (Thursday 6th August, 2015) the Victorian Government passed the Environmental Upgrade Agreement (EUA) legislation through the lower house with both major parties and the Greens supporting it. The bill is now on the agenda of the upper house for debate. This legislation enables all councils across Victoria to establish EUA programs within their municipality assisting local businesses improve their energy efficiency; lower operating costs and provide employment to the local community.

In a desktop analysis completed internally it has been calculated that the state-wide solar opportunity is 771MW for commercial and industrial property. In another study completed by the Eastern Alliance for Greenhouse Action it was estimated that a Victorian wide EUA program could inject $4.5billion of economic activity and create 800,000 jobs.

EUAs allow for the tenants and building owners of commercial and industrial property to collaborate on energy, water and waste projects that will reduce the impact to the environment and reduce operating costs. Unlike other alternative finance options, EUAs allow tenants to contribute financially to the project where it makes sense to do so and help shape the project to best suit their needs. Importantly, EUA finance also offers 100% project finance, very competitive interest rates and long term finance; resulting in no cash flow impact of the projects.

We are seeing a strong interest for EUA financed projects throughout Victoria and welcome discussion with service providers, building owners and tenants for projects you might have in mind. We are also interested in discussing the establishment of a EUA program from local governments. Please email michael.lambden@sustainableaustraliafund.com.au or call (03) 9658 8740 for further information.

We welcome the passing of this bill to the lower house of the Victorian parliament and will provide updates on its progress through the upper house. We look forward to working with local councils to open up economic and environmental opportunities in their council.


    Sustainable Melbourne Fund

    Enquire Now

    Complete the form below and our team will be in touch to discuss your project


    Why SAF is Right For You!

      Download More Information

      Complete the form to be emailed our detailed information pack

      Other Recent Articles


      How to maximise sales with compliant VEEC projects: Our best practice tips

      The Victorian Energy Upgrades (VEU) program is an initiative established by the Victorian State Government. The scheme aims to promote energy efficiency by encouraging households, businesses, and indu..


      Embracing Sustainability in the Hospitality Industry

      The hospitality industry increasingly faces a pivotal challenge: how do hospitality businesses become more sustainable while ensuring profitability? The hospitality sector, encompassing hotels, restau..


      Now Available

      New Fast Track Green Loan now available!

      Our new Fast Track Green loan will deliver more speed, greater flexibility, and extra choices for our customers.

      This includes:

      + Accelerated approval: With our Fast Track Green Loan, eligible businesses can secure up to $200,000 without the need to submit financials for faster approvals.

      + Fixed and Variable Rate Interest Options: All our eligible businesses can now choose an SAF green loan, including out Fast Track Green Loan with either a fixed or variable interest rate, providing the flexibility in funding you deserve.

      Find out more and apply today!