Solar in Australia: Origin Energy inks solar power PPA with FRV on the 100 MW Clare Solar Farm

Origin Energy Limited (Sydney, New South Wales) has entered into an agreement with global solar company Fotowatio Renewable Ventures (FRV, Madrid, Spain), an independent solar power producer, to purchase solar power from the proposed 100 MW Clare Solar Farm in north Queensland According to Origin Energy, the Clare Solar Farm will generate more renewable electricity than any other solar photovoltaic (PV) plant in Australia. Under the terms of the power purchase agreement (PPA), Origin will purchase 100 per cent of the solar power output and large scale renewable energy certificates (LRECs) from Clare Solar Farm, located 35 km west of Ayr in northern Queensland. The PPA will run for 13 years from the commencement of operations until December 2030. FRV will commence construction on the 300-hectare PV generation site later in 2016, with operations expected to commence in 2017. Origin has also secured an option to develop a further 35 MW of capacity. The deal follows the signing of a 15-year PPA with FRV for the solar power generated by the 56 MW Moree Solar Farm in northern NSW in March. “The cost of solar is falling rapidly compared to other renewable resources and Origin is well-placed to capture opportunities towards our aspiration to be Australia’s number one renewables company,” comments Origin Energy markets CEO Frank Calabria. “Clare Solar Farm will generate more solar energy than any other Australian project, utilising single-axis tracking technology with panels that follow the sun to maximise generation capacity throughout the day.” The Clare PPA will increase Origin’s owned and contracted renewable portfolio to more than 700 MW. FRV Chief Executive Officer Rafael Benjumea said the Clare PPA was “another significant step in achieving FRV’s strategy to develop and build renewable power generation assets across Australia and globally.” source:http://www.solarserver.com