Looking to expand its portfolio of renewable energy generation, Snowy Hydro has called for expressions of interest for the supply of long term off-take arrangements from solar and wind energy sources.
According to the expression of interest offer, the utility is procuring up to 400 MW of wind and 400 MW of solar off-takes in order to meet the growing energy demands from its customers.
Responses to the EoI will be shortlisted and proponents on the shortlist will be asked to present a binding request for proposal (RfP), says Snowy Hydro, specifying that the closing date for the submittal for its 2018 renewable energy and LGC procurement program is June 19.
To date, Snowy Hydro has signed PPAs for only two renewable energy projects: South Australia’s Tailem Bend Solar Project, a 127 MW solar PV plant developed by Singapore-headquartered Equis Energy, and the 212 MW Lincoln Gap wind farm, a project coupled with a 10 MWh unsubsidized battery that last year managed to secure $150 million in debt finance from the Clean Energy Finance Corporation.
Earlier this year, the federal government announced that it will acquire the full ownership of Snowy Hydro, as it agreed to buy stakes held by New South Wales and Victoria for more than $6 billion.
It is believed that the deal will pave the way for the landmark Snowy 2.0 pumped hydro project, which according to the CEO of Snowy Hydro, Paul Broad, can outcompete new coal on price and on reliability, though some believe that this is only viable if more coal power exists the market.