ERM Power (ASX: EPW) has signed a power and Large-scale Generation Certificate (LGC) offtake agreement with Edify Energy to underpin construction of the 58MW large-scale Hamilton Solar Farm in regional Queensland. ERM Power Managing Director & CEO Jon Stretch said…
ERM Power (ASX: EPW) has signed a power and Large-scale Generation Certificate (LGC) offtake agreement with Edify Energy to underpin construction of the 58MW large-scale Hamilton Solar Farm in regional Queensland.
ERM Power Managing Director & CEO Jon Stretch said today’s announcement further reinforced the Company’s commitment to supporting the growth of renewable sources of energy in Australia.
The agreement will see ERM Power purchase all of the energy and LGCs produced by the Hamilton Solar Farm in coming years.
“ERM Power’s position as the second largest electricity retailer to Commercial and Industrial customers, providing 18.5TWh of power into the Australian market annually, has enabled us to underpin the construction of new renewable infrastructure,” Mr Stretch said.
Last month ERM Power announced it had reached agreement on commercial terms that would underpin the construction of two other renewable energy generation assets in Australia, with a combined capacity of more than 300MW.
Mr Stretch said he was delighted to announce this third project today, Hamilton Solar Farm.
“The amount of energy that will be generated annually by the Hamilton Solar Farm is equivalent to powering approximately 450 schools in Queensland for 12 months, while the creation of LGCs contributes to the Renewable Energy Target.”
Mr Stretch said reducing emissions from the electricity sector was an important part of a long-term plan to reduce greenhouse gas emissions.
“The need for an orderly transition to low emissions electricity generation is obvious. There is a huge opportunity and responsibility to get the transition from fossil fuels to renewables right, given the significant impact on the energy market, economy, jobs and our environment.”
Mr Stretch said that energy efficiency was a critical part of this transition, helping businesses and households save money while delivering benefits such as energy productivity and reduced greenhouse gas emissions.
“ERM Power is increasingly working with businesses on programs that help them reduce their consumption, emissions and costs. Energy efficiency through reduced consumption is the cheapest form of carbon abatement for businesses,” he said.
ERM Power’s Energy Solutions provide customers with a fully integrated approach to energy efficiency, including demand response, power factor correction, energy management software, lighting solutions and strategically timed energy procurement.
“These can deliver real electricity cost savings to organisations like Government departments, schools, hospitals and the manufacturing sector. One such example is Beenleigh State High School, which saved $28,000 in energy in the first eight months following the deployment of a fully integrated energy efficiency program.”
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About ERM Power
ERM Power is an Australian energy company operating electricity sales, generation and energy solutions businesses. The Company has grown to become the second largest electricity provider to commercial businesses and industrials in Australia by load, with operations in every state and the Australian Capital Territory. A growing range of energy solutions products and services are being delivered, including lighting and energy efficiency software and data analytics, to the Company’s existing and new customer base. ERM Power also sells electricity in several markets in the United States. The Company operates 497 megawatts of low emission, gas-fired peaking power stations in Western Australia and Queensland.