Cloudy
12 °C
Germantown, Maryland
Cloudy

Sun Mar 24 2019
none

AGRIBUSINESS SIGNS CORPORATE RENEWABLE PPA

08-01-2018
by 
in 
Ararat Wind Farm
Ararat Wind Farm

Olam Orchards Australia has become one of the first businesses in the country to enter into a large-scale renewable corporate power purchase agreement by signing up with Flow Power on a 10-year deal.

The agreement gives Olam direct access to secure, cost effective renewable power from Ararat Wind Farm, which can be used in real time to reduce the company’s consumption from the grid, and is expected to save it thousands of dollars in energy costs.

According to Olam Group CEO, Sunny Verghese: “We are proud to be one of the first businesses to sign a Corporate Renewable PPA in Australia. This is in line with our strategy to grow our renewable energy portfolio around the world, from solar panels for cocoa processing in Cote d’lvoire, to harnessing geothermal power for our onion dehydration plants in the USA. These are just a few of our initiatives to tackle climate change as part of our purpose of ‘Re-imagining global agriculture’. In addition, this transaction also provides us energy cost visibility over the longer term.”

“Olam has been a customer of Flow Power for many years,” says Flow Power MD Matthew van der Linden. “We are very excited for them to be among the first to benefit from our new offering. Our Renewable Corporate PPAs open the market to a much broader range of businesses that don’t necessarily have the scale to negotiate one-to-one with large renewable plants. It is a game changer that we expect will allow Australia to catch up with other international markets that have proven this model to be a success.”

Flow Power
1300 08 06 08
flowpower.com.au

 

Related news & editorials

  1. 25.03.2019
    25.03.2019
    by      In
    Following the awarding of the contract to provide the Australian Government’s Short Range Ground Based Air Defence programme, Raytheon Australia is set to build its first Australian production facility in Adelaide.
    The air defence programme, dubbed LAND19 Phase 7B, will see Raytheon Australia and... Read More
  2. 22.03.2019
    22.03.2019
    by      In
    OMAX Corporation, a manufacturer of abrasive waterjet systems, plans to join forces with Hypertherm, a manufacturer of industrial cutting systems and software, following the signing of a definitive merger agreement that establishes OMAX as a wholly owned subsidiary of Hypertherm.
    When the agreement... Read More
  3. 22.03.2019
    22.03.2019
    by      In
    CSIRO research into the Melbourne to Brisbane Inland Rail project has found that shifting horticulture and processed agriculture, such as meat, rice and dairy products, from road to rail could reduce transport costs for the agricultural sector by an estimated $70 million per year.
    Last year,... Read More
  4. 22.03.2019
    22.03.2019
    by      In
    The executive board of German bearings manufacturer Schaeffler AG has made appointments based on decisions by the company’s supervisory board on 1st March 2019. The executive board will continue to consist of eight managing directors and the four regional CEOs, but the new appointees will make the... Read More