Flow Power has signed Australia’s first ever large-scale Renewable Corporate Power Purchase Agreement (PPA) for the Ararat Wind Farm.
The 240MW Ararat Wind Farm, located in south-west Victoria, is now operating at full capacity, providing enough electricity to power the equivalent of 120,000 homes across Victoria and the ACT.
It is the third-largest wind farm in Australia.
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 provides 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.
“The power market is changing, and this agreement with Ararat Wind Farm marks a line in the sand for the energy sector in Australia,” Flow Power founder Matthew van der Linden said.
“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.”