An Australian steel giant has signed a seven-year power purchase agreement (PPA) to buy solar energy.
BlueScope will soon power its Port Kembla Steelworks with renewable energy sourced from the 133MW Finley Solar Farm, which will to be located 100 kilometres west of Albury in New South Wales.
The deal, signed with ESCO Pacific and Schneider Electric, is expected to supply around a fifth of BlueScope’s electricity usage in the country, significantly reducing costs,cutting emissions and providing improved price certainty.
The price it will pay for the energy has not yet been disclosed.
BlueScope’s Head of Australian Steel Products, John Nolan, said: “This PPA is one of Australia’s largest corporate offtake agreements and is the largest with a solar farm to date.
“The PPA will help keep downward pressure on our energy costs and will support the gradual transition to renewable energy.”