Flow Power and Ararat Wind Farm has signed Australia’s first ever large-scale Renewable Corporate Power Purchase Agreement (PPA); a deal that secures long-term, low-cost renewable energy for Australian businesses.
Renewable PPAs are part of corporate energy strategies of companies like Google, Amazon and Facebook recognising the fact that they offer both long term price security and are one of the fastest ways to reach sustainability goals. Flow Power is the first retailer to offer large energy users in Australia these same benefits within a volatile power market.
The introduction of Renewable Corporate PPAs allows local businesses to tap into a global trend that will bring costs down and benefit both the environment and the economy.
Renewable Corporate PPAs contribute to meeting the Renewable Energy Target of a 25 per cent reduction in emissions by 2020, but also make economic sense by providing Australian businesses with direct access to secure, low-cost energy supply at rates up to half the current retail rates, saving businesses hundreds of thousands of dollars in energy costs. Ultimately, that means more jobs and investment in Australia for the long term.
Matthew van der Linden, founder of Flow Power, will be discussing the deal at “Disruption & The Energy Industry” event in Sydney on Thursday. van der Linden said, “The power market is changing, and this agreement with Ararat Wind Farm marks a line in the sand for the energy sector in Australia. Renewable Corporate PPAs are the key to keeping business power costs down, and our aim is to be able to offer these savings to all large energy users across the country.”
“Corporate PPAs have proven successful internationally over the past decade, and we are proud to bring the model to Australia in partnership with Ararat Wind Farm. We are actively working with customers to get agreements signed in the coming months.”
Stuart Liddell, General Manager of Ararat Wind Farm adds, “As the third largest wind farm in Australia, Ararat Wind Farm continues to play a major role in producing carbon-free electricity. Ararat Wind Farm is pleased to announce this PPA with Flow Power that will directly benefit the local and regional economy by helping businesses keep costs down while procuring secure, reliable and green power”.