Mytilineos and SmartestEnergy Australia have signed a long-term Power Purchase Agreement (PPA) for the 40MW Kingaroy Solar Farm in Queensland, Australia.
Kingaroy Solar Farm is owned by Mytilineos and is part of a 237 MWp portfolio in Australia that reached financial close in December 2022. SmartestEnergy Australia will offtake renewable energy from the solar farm, which it will then retail to its C&I customer base in Australia.
As a global and people-powered renewable energy company, SmartestEnergy offers reliable, innovative retail solutions for clean energy, leading the way to a 100% renewable energy system in Australia, the UK and the US. Specifically in Australia, where solar and energy storage solutions can be a key to a sustainable energy future, long-term deals like the new Kingaroy PPA, not only help ensure new assets are built but continue generating clean energy for decades.
Kingaroy Solar Farm is now in the final stage of construction by Mytilineos and will be operational in late 2023. This PPA enables the company to build the solar farm with project financing, and therefore progress Mytilineos’ renewables build-out strategy in the Australian market.
Mytilineos’s Australian portfolio stands at 376MW. Most projects are connected with long-term Green” PPAs with several offtakers, showcasing the Company’s established position in the country and the overall global strategy of becoming an integrated energy company.
The total capacity of Mytilineos’ international RES portfolio is accelerating, consisting of projects in several countries and various stages of development of more than 11.9 GW.