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.”
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