July 26, 2018

BlueScope signs Australia’s largest solar PPA

Australian manufacturer BlueScope Steel announced a seven-year PPA to offtake 66% of the 133MW of energy generated from ESCO Pacific’s Finley Solar Farm. This represents 20% of BlueScope’s total Australian electricity purchases.

"This PPA is one of Australia’s largest corporate offtake agreements, and is the largest with a solar farm to date, and complements our firm electricity supply arrangements, which provide the reliable electricity supply we need for manufacturing processes that must operate 24/7," said John Nowlan, BlueScope’s chief executive, Australian Steel Products, in a statement, adding, "The PPA will help keep downward pressure on our energy costs and will support the gradual transition to renewable energy."

The ground-mounted Finlay Solar Farm, located in New South Wales, features 500,000 solar panels across a 300-hectare site, equivalent to 741 acres, and is expected to be online by mid-2019.  

BlueScope was supported in the agreement by Schneider Electric, which noted in a statement, "Historic ups-and-downs in the price of Australian electricity have led to considerable and unexpected surges that have left many businesses struggling to manage their energy budgets.  The agreement fixes the power price over the life of the contract, reducing the price for power in the immediate term and providing a long-term buffer against market volatility." 

 “BlueScope’s approach to energy has always been about balancing the ‘Trilemma’, whereby we have access to affordable and reliable energy whilst reducing emissions where we can,” said Nowlan

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