The Australian arm of global industrial products manufacturer Molycop has signed a renewable energy off-take deal to source more than half of its NSW electricity needs from locally generated solar and wind power.
The power purchase agreement with specialist retailer Flow Power is underpinned by off-take deals with the under construction Bomen Solar Farm and the operational Sapphire Wind Farm, both located in regional NSW.
In a statement on Monday, Molycop said the 10-year deal would supply an estimated 100,000MWh per year of clean energy, covering more than half of the company’s NSW electricity consumption, and making it one of the biggest buyers of renewables in Australia.
The company – which manufactures and supplies steel-based products and services to the mining and rail transport industries – said the PPA marked the start of a new chapter for the business.
“This agreement is an important milestone for Molycop,” said the company’s Australasia president, Michael Parker.
“It not only provides strong support to Australia’s pipeline of renewable energy infrastructure projects that will also benefit the wider community, but also enables us to gain greater control over volatile energy costs.
“From a sustainability standpoint, Molycop is not only supporting two important renewable energy projects, but we are further enhancing our credentials as a responsible and sustainable organisation,” Parker said.
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