Renewable energy power purchase agreement reached
SCHNEIDER ELECTRIC says its recently launched cleantech advisory resource – Energy & Sustainability Services (ESS) – has helped BlueScope Steel to secure one of Australia’s largest corporate renewable energy Power Purchase Agreements (PPA) through The landmark seven-year Power Purchase Agreement (PPA). This will see BlueScope offtake 66 percent of the 133MW of energy generated from ESCO Pacific’s Finley Solar Farm. The agreement also fixes the power price over the life of the contract, reducing the price for power in the immediate term and providing a long-term buffer against market volatility. Historic ups and downs in the price of Australian electricity have led to considerable and unexpected surges that have left many businesses struggling to manage their energy budgets. The agreement was signed late last month at Port Kembla in NSW. BlueScope’s Port Kembla Steelworks is the largest manufacturer and supplier of flat steel in Australia by volume and manufactures slab, hot rolled coil and plate products.