EnergyAustralia has entered into an agreement to buy electricity, which will be generated by Ross River Solar Farm in Queensland, Australia.
Under the 13-year power purchase agreement (PPA), EnergyAustralia will buy 80% of the electricity to be produced by the 142MW Ross River Solar Farm.
The newly announced deal is a part of EnergyAustralia’s $1.5bn power purchase programme that aims to buy around 500MW of power from new wind and solar energy projects across eastern part of Australia.
EnergyAustralia managing director Catherine Tanna said: “Providing reliable, affordable and cleaner supplies of energy has never been more important than it is today.
“As an owner of coal-fired power stations EnergyAustralia has a responsibility to provide leadership on the best, most cost-effective means of reducing emissions and addressing climate change.
“For us, that means broadening Australia’s energy mix by finding and supporting quality renewable projects, like the Ross River Solar Farm, on behalf of our customers.”
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By GlobalDataJointly owned by Palisade Investment Partners and ESCO Pacific, Ross River Solar Farm will be developed with an investment of A$225m ($172m).
Construction of the farm is scheduled to begin by the first quarter of this year, and will take about 12 months to complete.
Once completed, the farm will provide energy to power around 52,000 homes annually.
In December last year, EnergyAustralia announced an agreement to secure all the electricity produced by a 48.5MW solar farm at Manildra in regional New South Wales, Australia, until 2030.
The company’s current renewable energy programmes include the rights to more than 450MW of electricity from wind farms in New South Wales, Victoria and South Australia.
