The continuing decrease in the cost of new wind and solar farms, plus the growth of new firming contract products, are making large corporations and industrial users cut their energy costs by approximately 40 percent.
On Friday, a Melbourne-based wholesale energy and environmental market broker, TFS Green, launched its new “Renewable Energy Hub.” The project was revealed a day after the announcement of TFS Green’s first transaction with the Kiamal solar farm and Mars Australia.
In an article posted on the website of RenewEconomy, TFS Greens’ Chris Halliwell stated that wind and solar are evidently providing electricity at a 40 percent discount from what is available to medium and large users elsewhere on the grid.
The article continued, “That assessment is shared by Sanjeev Gupta and his team at SIMEC ZEN Energy, which is looking at similar savings from building a massive suite of large-scale solar, pumped hydro, and battery storage to power the Whyalla steelworks and other big energy users.”
Sun Metals, a Korean-owned zinc refiner, is also expecting similar savings that will support a major expansion of the Townsville refinery.
Halliwell further commented that the new Renewable Energy Hub will act as a “marketplace to match commercial and industrial energy buyers with wind and solar project owners and developers, and facilitate the work of consultants and energy retailers.”
Also, it will provide firming contracts for those who intend to lessen their exposure to market spikes when their contracted wind or solar farms are not producing.
He added, “The objective of the platform is simple. It is a marketplace to standardise and drive more wholesale renewable energy, firming products, and corporate PPA transactions.”
“The future of the renewable energy market will require firming solutions for intermittent generators to transact advantageously. Renewable Energy Hub will drive off-take opportunities for projects and energy cost-saving options for businesses, through simplifying and standardizing corporate PPAs transactions and making them available for more energy users,” Halliwell continued.
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