Origin Energy is to buy all the electricity generated by Fotowatio Renewable Ventures’s 56MW Moree solar farm in New South Wales, Australia, under a 15-year power purchase agreement.
Moree consists of 223,000 tracking solar photovoltaic modules and is expected to produce approximately 145GWh of electricity a year.
It is the first large Australian solar project to use a single-axis tracking system that follows the sun’s path from east to west to maximise the energy generated during the day.
Origin will also receive all the renewable energy certificates created by the solar project, which was funded by Fotowatio with the support of an Australian Renewable Energy Agency grant and debt on commercial terms from the Clean Energy Finance Corp.
The deal is Origin’s first Australian solar PPA.
Origin chief executive officer energy markets Frank Calabria said: “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.”
Image: sxc
