A massive Australian solar farm will now generate power exclusively for Origin Energy, after they today announced a 15-year agreement to purchase 100% of the solar energy from the solar farm in Moree NSW. The massive farm contains a staggering 233,000 solar panels that track to the sun to capitalise on the most sun per day possible.
The power generated from the solar farm is estimated to collect 145 GWh every year and that would translate to power around 24,000 homes in Australia. The power comes from a farm commissioned by Fotowatio Renewable Ventures’ (FRV), a company that has many solar farms including Spain and Italy.
Origin Chief Executive Officer, Energy Markets, Frank Calabria said,
Origin was the world’s first energy company to adopt all seven We Mean Business coalition commitments on climate change. And we’ll continue to lead on reducing emissions by entering into PPAs on large-scale renewable projects like Moree, as well as empowering our customers through our in-home solar and battery solutions.
Solar technology has improved dramatically over the past few years and the cost has come down as a result. There has never been a better time for Origin to pursue large-scale solar opportunities – and fulfil its aspiration to be one of Australia’s leading renewable energy companies.
This renewable energy source will help Origin meet its obligations under the Federal Government’s Renewable Energy Target. This comes on the back of Origin’s announcement to sell Tesla’s Powerwall battery storage to consumers last December.
The FRV solar farm project was funded with the support of the Australian government through a grant of AUD$101.7 million from the Australian Renewable Energy Agency (ARENA) and debt on commercial terms from the Clean Energy Finance Corporation (CEFC). It is expected the solar farm will have an operating life of around 30 years, so Origin is committing to half the usable life with today’s announcement.
For more information, head over to Origin Energy.
