Qube rail freight project wins CEFC investment to cut truck emissions
The Clean Energy Finance Corporation (CEFC) has announced its first investment in clean energy transport infrastructure, committing up to $150 million to a major intermodal terminal in at Moorebank in south-western Sydney to be developed by Qube Holdings Limited.
Qube is developing the Moorebank Logistics Park to increase the use of rail networks to distribute containerised freight to and from Port Botany. The project will also incorporate large-scale renewable energy sources.
The Moorebank project will switch the movement of 1.55 million freight containers at Port Botany from road to rail, with an estimated annual abatement of more than 110,000 tCO₂e in transport-related emissions.
The switch to rail transport, when operating at scale, will cut an estimated 3,000 truck journeys a day from Sydney's road network, particularly the M5. It will also reduce the number of regular Sydney-Brisbane and Sydney-Melbourne truck freight trips.
By 2030, the new intermodal facility at Moorebank Logistics Park is expected to:
Reduce the distance travelled by container trucks on Sydney's road network by 150,000 kilometres every day (56 million kilometres per annum, saving 73,000 tCO₂e of emissions);
Reduce the distance travelled by long distance interstate freight trucks by 93,000 kilometres every day (34 million kilometres per annum, saving 41,000 tCO₂e emissions);
Deliver net annual carbon emissions savings equivalent to removing 11,000 vehicles from the road for a full year or burning 25,000 tonnes of coal;
Generate 65,000 MWh/year from renewable energy sources installed on site, capable of powering over 10,000 homes.
Despite its massive scale - operating across a site the size of Sydney's CBD - the freight and energy efficiencies delivered via the Moorebank Logistics Park are expected to result in net emission reductions totalling more than 2 million tonnes of CO2-e over a 40-year period.
This net reduction takes into account construction emissions, embodied energy within building materials, offsite transportation, operational emissions and savings from the onsite use of renewable energy. It does not factor in inevitable advances in technology over that 40-year period.
Qube Holdings Managing Director Maurice James said the Moorebank Logistics Park would transform the containerised freight supply chain in Sydney.
The CEFC's finance is being provided to Qube through a seven-year bilateral term debt facility to assist in providing medium-term finance for the staged construction of the intermodal terminal, which is targeted to reach full capacity in 2030.