Flow Power and Ararat Wind Farm announce renewable corporate PPA
Yesterday marked the announcement of a large-scale renewable corporate power purchase agreement (PPA) — a deal that is said to secure long-term, low-cost renewable energy for Australian businesses. The deal was struck between electricity retailer Flow Power and Australia’s third-largest wind farm, Ararat Wind Farm.
Renewable PPAs are already at the heart of many corporate energy strategies in Europe and North America, with companies like Google, Amazon and Facebook finding that they offer both long-term price security and a fast route to reaching sustainability goals. The introduction of renewable corporate PPAs to Australia will thus allow local businesses to tap into a global trend that is expected to bring costs down and benefit both the environment and the economy.
Renewable corporate PPAs will provide Australian businesses with direct access to secure energy supply at up to half the current retail rates, enabling businesses to save hundreds of thousands of dollars in energy costs. They are also expected to contribute to meeting the Renewable Energy Target of a 25% reduction in emissions by 2020.
“The power market is changing, and this agreement with Ararat Wind Farm marks a line in the sand for the energy sector in Australia,” said Flow Power founder Matthew van der Linden. “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.”
“As the third-largest wind farm in Australia, Ararat Wind Farm continues to play a major role in producing carbon-free electricity,” added Stuart Liddell, general manager of Ararat Wind Farm. “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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