Global gi­ants sign land­mark deals

The Australian Energy Review - - NEWS - EL­IZ­A­BETH FABRI VIC­TO­RIA

SANJEEV Gupta’s GFG Al­liance has signed a 15-year power pur­chase agree­ment to buy most of the out­put from Neoen’s 100 megawatt (MW) Nu­murkah so­lar farm to power its Laver­ton steel works in Vic­to­ria. The com­pa­nies also en­tered into a Me­moran­dum of Un­der­stand­ing (MOU) to work to­gether to de­velop, op­er­ate and sup­ply re­new­able en­ergy at record-low costs. Mr Gupta said the pur­chase agree­ment would help lower costs at Laver­ton and the MOU was an “ex­cit­ing op­por­tu­nity” to find global re­new­able en­ergy so­lu­tions of even greater scale. “Re­new­able en­ergy is at the heart of our GREENSTEEL and GREENALUMINIUM strate­gies, de­signed to make metal pro­duc­tion and engi­neer­ing com­pet­i­tive again in de­vel­oped coun­tries,” Mr Gupta said. “We see Aus­tralia – with its in­com­pa­ra­ble en­ergy re­sources – as the nat­u­ral home for ex­pan­sion of en­ergy-in­ten­sive in­dus­try, with re­new­ables to play an in­te­gral role.”

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