Flow Power has tied up Australia’s first large-scale renewable corporate power purchase agreement (PPA) with Australia’s third largest wind farm, Ararat Wind Farm. In what is described as a landmark deal, the electricity retailer will now be able to offer large energy users in Australia access to power at around half the current market rates.
Renewable corporate PPAs are expected to contribute to meeting the renewable energy target of a 25% reduction in emissions by 2020. However, they also make economic sense by providing Australian businesses with direct access to secure low-cost energy supplies and potential savings running into hundreds of thousands of dollars in energy costs.
According to Flow Power founder Matthew van der Linden: “The power market is changing, and this agreement with Ararat Wind Farm marks a line in the sand for the energy sector in Australia. Renewable corporate PPAs are the key to keeping business power costs down, and our aim is to be able to offer these savings to all large energy users across the country.”
“Corporate PPAs have proven successful internationally over the past decade, and we are proud to bring the model to Australia in partnership with Ararat Wind Farm. We are actively working with customers to get agreements signed in the coming months,” he added.
Stuart Liddell, General Manager of Ararat Wind Farm said: “As the third largest wind farm in Australia, Ararat Wind Farm continues to play a major role in producing carbon-free electricity. Ararat Wind Farm is pleased to announce this PPA with Flow Power that will directly benefit the local and regional economy by helping businesses keep costs down while procuring secure, reliable and green power”.
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