Origin Energy (Origin) has signed long-term agreements for renewable energy supply with seven customers across critical infrastructure assets in New South Wales and Victoria
The agreements were executed by Origin’s newly established Origin Zero business unit and total 132 GWh of renewable energy per annum in aggregate. The agreements reflect the growing trend of large businesses seeking an energy partner who can help them with both their energy needs and support them to achieve their decarbonisation objectives.
The agreements were facilitated through IFM Investors, QIC and Renewable Energy Hub, and delivered Renewable Energy Hub’s proprietary Core Markets software platform.
Origin Zero was established in late 2021 to accelerate the delivery of cleaner energy products and services to large business customers, to help them achieve their climate change commitments. Origin Zero has also contributed to IFM investors and QIC’s own net zero targets, as responsible owners of critical infrastructure.
Origin Executive General Manager Energy Supply and Operations, Greg Jarvis said, “Origin’s strategy is to lead Australia’s energy transition to net zero emissions, by reducing our own emissions and providing the products and services that can assist customers with their transition to a low-carbon future.
“Our agreements with seven large customers spanning airports, ports, energy infrastructure, roads and hospitals, demonstrate this strategy in action, with Origin increasingly being called upon to provide renewable energy supply, which can help support the decarbonisation of their businesses.
“In particular, we are pleased to be enabling these customers to source clean energy with direct line of sight to certain renewable assets.
“We welcome the opportunity to work in partnership with IFM investors, QIC and Renewable Energy Hub, to execute these significant renewable agreements,” Mr Jarvis said.
Under the long-term agreements, all customers will be supplied with renewable energy from the Stockyard Hill Wind Farm west of Ballarat in Victoria, the full output of which is contracted to Origin, with firming provided by Origin’s broader portfolio.
While there are common terms across the agreements, each customer has signed its own agreement with some variations in terms. This includes supply agreements ranging from six years to nine years, out to December 2030.
Renewable energy and storage accounts for more than 20 per cent of Origin’s total owned and contracted generation portfolio.
Source: Company Press Release