Solar PV developer Maoneng Australia has signed a power purchasing agreement (PPA) for the supply of 300MW of solar power to utility AGL Energy.
Under the contract, the company will supply up to 800,000 MWh of renewable energy per annum to AGL for 15 years.
Maoneng’s Vice President Qiao Nan Han said the contract “is the largest solar energy supply contract ever signed in Australia.”
The contracts are expected to underpin at least two major solar farms in NSW, including the Sunraysia Solar Farm in Balranald.
Sunraysia solar PV plant is a proposed 250MW solar farm to be located near Balranald in New South Wales (NSW).
Qiao Nan Han “The Sunraysia Solar Farm will be the first of several solar farms which Maoneng will work with AGL to develop. We are pleased to have entered into a contract with AGL that provides certainty for renewables development and energy security.”
The remaining capacity to meet the AGL contract will be allocated from the next most suitable project within Maoneng’s development portfolio in NSW, according to the company.
Qiao Nan Han said: “In the absence of bankable PPAs during a period of political uncertainty, we believe that the AGL contract sets us apart from the market.
“ The second project underpinned by the AGL contract, the Midgar Solar Project, demonstrates our continuous efforts to transition Australia out of fossil fuel dependency. We remain committed to making a difference in the energy sector, one solar panel at a time.”
The company first announced the development of Sunraysia Solar Farm in May 2016.
Recently, construction firm Decmil Group has signed a Memorandum of Understanding (MOU) with Maoneng Australia for the design and construction of the Sunraysia Solar PV project.
Image: Zuma Energia secures financing for two solar farms in Mexico. Photo: Courtesy of RK008/FreeDigitalPhotos.net.