LPE signs 15-year Walker Corporation agreement for SOL by Walker
Locality Planning Energy Holdings Limited (ASX: LPE) has executed a Supply Agreement with Walker Corporation to deliver embedded network energy services and associated infrastructure at SOL by Walker in the Maroochydore City Centre. The development is a two-tower mixed-use project of 248 residences, with ground-floor retail and commercial tenancies.
The agreement includes a 15-year Master Services Agreement commencing from completion, with approximately 260 service points expected at completion. It is LPE’s first energy services agreement with Walker Corporation, secured through a competitive process in the Company’s home city.
According to the announcement, the agreement adds a leading national developer to LPE’s partner base and delivers on its strategic priority to grow through partnerships.
Craig Chambers, LPE Chair
“This agreement is our strategy in action…”
When big ASX news breaks, our subscribers know first
What LPE will fund, install and operate
Under the agreement, LPE will fund, install and operate the development’s embedded electricity network. The scope includes:
- Smart metering for each residence and tenancy
- Instantaneous hot water systems
- A rooftop solar system supplying the common property
- Electric vehicle charging in the car park
LPE will supply electricity to residents and tenants and provide metering, billing and customer service for a term of 15 years from completion.
LPE will fund the infrastructure from its existing resources and facilities. The announcement does not disclose a capital amount.
LPE describes its business model as combining infrastructure investment with long-term service agreements that support recurring revenue.
How embedded networks work for investors
An embedded network is a private electricity network operating inside a building or precinct. The operator buys power in bulk and supplies it to residents and tenants, handling metering and billing.
For investors, the relevance lies in contract length and scale. Long-term agreements, and each connected service point, contribute to a recurring revenue base. At SOL by Walker, the development is expected to add approximately 260 service points to LPE’s portfolio at completion.
The Walker agreement sits alongside three residential development partnerships covering social housing, premium residential and over-50s land lease communities, each backed by long-term supply agreements of up to 15 years.
The announcement does not state margins or returns for the agreement.
Construction timeline and phased rollout
Construction at SOL by Walker commenced in May 2025. The timings for completion are Walker’s expectations, and connections are expected to follow as the towers are completed.
| Milestone | Timing | Detail |
|---|---|---|
| Construction commenced | May 2025 | SOL by Walker, Maroochydore City Centre |
| Stage 1 completion | Q4 2027 | Walker expectation |
| Stage 2 completion | Q1 2028 | Walker expectation |
| Connections | Progressively from late 2027 | Connected as the towers are completed |
Earlier this year, LPE relocated its head office to Walker’s 50 First Avenue tower, adjacent to the SOL site.
Peter Saba, Walker Corporation Group Executive of Development
“Our partnership with LPE will support the delivery of 248 new residences at SOL by Walker with efficient, sustainable energy infrastructure…”
“This agreement is a strong model for growth in the Sunshine Coast region…”
Revenue timing and what to watch
Connections and revenue under the Master Services Agreement are expected to build progressively as each tower is completed, service orders are issued, and residences and tenancies are settled and occupied.
LPE has stated it cannot yet reliably estimate the timing of revenue from the agreement, which will depend on the pace of construction, settlements and tenancy commencements. LPE will update the market as material information becomes available.
Points to watch include:
- Construction progress at both towers
- Settlements of residences
- Tenancy commencements
- Further LPE updates to the market
LPE is an Australian provider of embedded network and multi-utility infrastructure and services across strata properties, land lease communities and retail shopping centres.
Investors exploring how LPE is widening its footprint beyond strata towers can read our detailed coverage of LPE’s Victoria expansion and first retail project, which sets out the three new agreements, the roughly 750 service points they add, and the infrastructure LPE is funding.
Want the Next Utilities Breakout in Your Inbox?
Join 20,000+ investors getting FREE breaking ASX news within minutes of release, complete with in-depth analysis. Click the “Free Alerts” button at Big News Blast to receive alerts the moment market-moving announcements land, and stay ahead of the market on non-resource sectors.