Ark Energy has signed a power purchase agreement with Telstra to supply electricity from its share of the 1026MW MacIntyre wind farm in Queensland, Australia.
Around 350GWh per year will be procured by the telecoms business as it targets 100% renewable consumption by 2025.
Ark Energy holds a 30% interest in the 923.4MW Acciona Energia-led portion of the wind farm that is currently in construction and due to come online in 2025.
“We are delighted for Telstra to be our first major third-party PPA customer,” said Ark chairman Yun Choi, who added electricity from the wind farm will also be supplied to the Sun Metals Zinc Refinery.
Vice chairwoman Kathy Danaher said MacIntyre, which will become Australia’s largest wind project once operational, is well placed to support large commercial and industrial customers towards decarbonisation.
“Ark Energy is proud to play a tangible role in supporting an iconic Australian business such as Telstra achieve its ambitious 2025 renewable energy target.”
Telstra group executive for product and technology Kim Krogh Andersen said: “Agreements like this one will help insulate Telstra from fluctuating wholesale electricity prices.
“Our annual power bill is equivalent to 300,000 household power bills, so signing long-term renewable energy agreements helps us to manage our costs.
“We are seeing a range of good opportunities in the local renewable market and we’re looking forward to partnering with more high-quality generators to secure the long-term success of their projects.”