Metis Energy and commercial and industrial electricity retailer SmartestEnergy have signed a power purchase agreement (PPA) for the offtake of renewable electricity generated by the Gunsynd Solar Farm being constructed near Goondiwindi in Queensland’s southwest.
Metis expects the power plant will be operational by 2025 after construction of the project commenced in earnest in February 2024. Once completed, the solar farm will be capable of producing up to 250 GWh of clean energy annually, enough energy to power 32,000 homes annually.
Metis Executive Chairman and interim Chief Executive Officer Tang Kin Fei said the long-term offtake agreement with SmartestEnergy marks another milestone in its renewable energy development plans for the Asia Pacific region.
“Metis Energy is pleased to have entered into this agreement with SmartestEnergy, and we hope to continue this partnership going forward,” he said.
Metis, which also operates in the Philippines, Indonesia, Vietnam and Bangladesh, said the Gunsynd Solar Farm will serve as the cornerstone of the company’s expanding Australian portfolio.
The company said the experience gained during its execution will be instrumental as the team gears up to embark on the Bendemeer Renewable Hub Project planned for the New England region of New South Wales.
The $1.2 billion (USD 780 million) Bendemeer project, being developed near Tamworth, is to include a 210 MW solar farm, 380 MW of wind generation and 200 MW / 400 MWh battery energy storage.
The tenure and scope of the “long-term” PPA signed with SmartestEnergy are yet to be released but the energy retailer said the renewable energy purchased from Metris will be made available to its commercial and industrial customers throughout Australia.
The new deal is the latest offtake agreement signed by SmartestEnergy, which is wholly owned by the Japanese Marubeni Corporation, as it continues to build its renewable energy offering.
In February, the energy retailer signed an eight-year agreement for 25% of the output of the 400 MW first stage of the New England solar farm being developed by Acen near Uralla in New South Wales. In December, SmartestEnergy and Enel Green Power signed a long-term offtake agreement for the 93 MW Girgarre Solar Farm being developed in central Victoria.
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