The agreement indicates to provide 50MW of renewable energy but Matthew van der Linden, the Founder and Managing Director of Flow Power said, “We will go well beyond that. We would like to get to thousands of megawatts over the coming years.”
He added, “We’ll hopefully be able to establish more of Ararat and the numerous other wind farms and solar farms around. The advantage of Ararat is that it is operating now. Customers can get a chunk of that today, and that is very important for customers who are trying to resign [contracts for electricity] at double or triple the price they were previously on.”
As Ecogeneration reported on its website, Flow Power also claims that the renewable corporate PPAs can guarantee energy supply at rates up to half the present retail rates.
This is the first time customers will be able to sign up in order to access a part of a large-scale renewable energy project. Van der Linden also said that drawing the generator away from the more lucrative spot market is one of the challenges of crafting such offer.
“They are getting huge revenues off the spot market at the moment, but the reason they are doing it [the PPA] is it is a long-term contract, they get surety of price over a 10-year period, and that is what they are after they get better lending rates and maximise their return.”
Renewable PPAs are already recognised by top companies around the world as they provide both long-term price security and are also one of the fastest methods to attain sustainability goals. PPAs will also enable the clients to be aware of the variability of renewables and Flow Power will inform its customers on demand response technologies and battery storage.
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