With a rapidly growing portfolio of renewable generation, this agreement brings Flow Power’s total announced offtake close to 300MW.
The 112MW Karadoc solar farm and 106MW Yatpool solar farm, which are owned and developed by global renewable energy developer, service provider and wholesaler BayWa r.e., will provide 20MW and 28MW respectively to power the corporate renewable power purchase agreements (PPAs).
Flow Power first introduced corporate renewable PPAs in the Australian market in 2017, powering a market that benefits from increasing year-on-year demand.
Businesses will be able to access low-cost wholesale renewable generation over a long-term period through corporate renewable PPAs.
Matthew van der Linden, Managing Director of Flow Power, comments,
“The demand for corporate renewable PPAs is only growing. We’re excited to welcome Karadoc and Yatpool Solar Farm to our portfolio and are committed to this ever-growing sector of the energy market.”
“This agreement with BayWa r.e. brings us one step closer to locking in more low-cost power for businesses across Australia and is a critical step forward for Australia’s energy market. We believe that supporting the integration of Australia’s renewable projects is key to shaping the power market for a better future.”
Marked as a major milestone for BayWa r.e., the signing of the PPA agreement will contribute greatly towards the development of the Yatpool solar farm.
Parallel to its agreement with Flow Power, BayWa r.e. has signed the EPC contract with Melbourne-based renewable energy contractor Beon Energy Solutions, which will start construction in early 2019.
Daniel Parsons, Director of BayWa r.e. Solar Projects Pty Ltd., comments,
“PPAs are fundamental to the success of solar energy projects of this scale. We’re very pleased to find a partner in Flow Power, who, in a restricted PPA market, will help us to bring renewable energy to businesses of all sizes across Australia.”
“Signing the EPC contract marks the start of construction of our third major solar farm in Australia.”
“With the support of our construction partner Beon Energy Solutions we hope to build on the great success achieved at Karadoc. This major solar farm was delivered on time in only 10 months and brought significant employment benefits and training to the local community.”
At over 600 acres, the Yatpool project will be BayWa r.e.’s second largest solar farm in Australia. Expected to be completed in late 2019, it will take its projected renewable energy development close to 240 MW within just two years of entering the Australian renewable energy market.
Beon Energy Solution’s General Manager Glen Thomson said the construction of the solar farm would deliver significant local and state-wide benefits. Mr Thomson comments,
“Victoria is on the way to becoming a renewable energy powerhouse and we are pleased to be part of this transition.”
“The Yatpool solar farm project will create jobs, boost the local economy and support cleaner energy for homes and businesses. We will continue providing job and skill development opportunities in the region during the construction of this solar farm, as we did at Karadoc.”
Read more about our Renewable Corporate PPAs here.