BREAKING: Comms giant makes $100m CQ project call
COMMUNICATIONS giant Telstra has today announced it has entered a long-term power purchase agreement with RES Australia, which would see the development of a new 70 megawatt (MW) solar farm near Emerald.
Under the purchase agreement, Telstra will secure long-term supply and price security from a new high-quality renewable energy source while providing RES with the security of the offtake for the new plant that will produce enough energy to power 35,000 homes.
Ben Burge, Executive Director of Telstra Energy, said the agreement was an important step in Telstra's strategy to actively manage its energy consumption and costs, while also contributing to reducing emissions and stimulating investment in regional Australia.
"We are proud to be taking an active role in Australia's transition to a lower emissions economy, complementing our long-standing energy efficiency and sustainability programs that saw our emissions intensity per unit of data fall by 56 per cent over three years,” Mr Burge said.
RES Australia's Chief Operating Officer Matt Rebbeck said Telstra's involvement was critical in underwriting this project, worth approximately $100 million.
"It is great to have been able to apply our global experience in long-term power purchase agreements to tailor the deal around Telstra's requirements and enable new renewable generation to be brought online,” Mr Rebbeck said.
"This 160ha new solar plant will be one of the largest renewable energy sources in northern Australia and will create jobs and economic opportunities in regional Queensland.”
Construction of the Emerald solar project will begin in the second half of the year and electricity generation is expected to commence next year.
The project will also collaborate with local businesses and indigenous communities to create the opportunity for local supply arrangements to support the construction and operation of the plant.