SmartestEnergy and MYTILINEOS Announce Long-Term Solar PPA for Kingaroy Solar Farm in Queensland
14 June 2023 – Sydney, Australia: SmartestEnergy Australia, an independent renewable energy retailer, and MYTILINEOS Energy & Metals, a global industrial company, are pleased to announce the signing of a long-term solar Power Purchase Agreement (PPA) for the Kingaroy Solar Farm located in Queensland, Australia.
MYTILINEOS and SmartestEnergy forge long-term partnership to power Australian businesses with Kingaroy Solar Farm's 40 MW renewable energy output
The Kingaroy Solar Farm, owned by MYTILINEOS, is a significant renewable energy project with a capacity of 40 megawatts. Under the terms of the agreement that has reached financial close, SmartestEnergy will purchase a substantial portion of the solar farm's electricity output over a long-term period, which SmartestEnergy will then retail to its commercial and industrial customer base in Australia.
SmartestEnergy and MYTILINEOS join forces to advance sustainable energy solutions and foster a greener future
The collaboration between SmartestEnergy and MYTILINEOS signifies a major step towards achieving a sustainable and greener future. By partnering with MYTILINEOS, an industry leader in the development of renewable energy projects, SmartestEnergy demonstrates its commitment to expanding its portfolio of renewable energy sources: “With a 20+ year history of driving energy markets forward, SmartestEnergy has doubled down to refocus its efforts on the net zero energy transition and what it will take to support generators and businesses in the current and future energy system, driving positive change”, stresses Robert Owens, CEO for SmartestEnergy Australia.
The solar power purchase agreement will contribute to Australia's renewable energy goals and support the transition towards a low-carbon economy. The Kingaroy Solar Farm will generate clean electricity that can power the equivalent to approximately 16,000 homes. “In Australia, solar and energy storage solutions are key to a sustainable energy future. Long-term deals like the new Kingaroy PPA not only help ensure new assets are built in Australia but also enable the delivery of clean energy for decades to come”, says Robert Owens.
MYTILINEOS expands Australian renewable energy portfolio with Kingaroy Solar Farm and strategic partnership with SmartestEnergy Australia
MYTILINEOS’s Australian portfolio currently stands at 376 megawatts. Most projects of MYTILINEOS relate to long-term ‘green’ PPAs with several offtakers, showcasing its established position in the country and the overall global strategy of becoming an integrated energy company. The Kingaroy Solar Farm is currently under construction and will be operational in late 2023. The PPA with SmartestEnergy Australia enables MYTILINEOS to build the solar farm with project financing, progressing MYTILINEOS’ renewables build-out strategy in the Australian market.
“The journey to 100% renewable energy can be complex, and businesses are at different stages with evolving needs”, acknowledges Robert Owens. “So, we are continuously developing our product offering to help accelerate the adoption of renewables quicker than ever before. For SmartestEnergy, long-term PPAs with multinational companies like MYTILINEOS – which are strategically positioned as integrated green utilities – are a core element of our vision to lead the way to a 100% renewable energy system.”