Aussie steel producer BlueScope strikes solar PPA with ESCO Pacific

Source: ESCO Pacific (www.escopacific.com.au).

July 20 (Renewables Now) - Australian steel producer BlueScope Steel Ltd (ASX:BSL) said today it has inked a seven-year power purchase agreement (PPA) with ESCO Pacific Pty Ltd tied to the latter’s 133-MW Finley solar farm project in New South Wales.

BlueScope has agreed to buy 66% of the electricity generated by the solar plant, whose total capacity in direct current (DC) amounts to 175 MW. The deal covers both the output and the large-scale generation certificates (LGCs).

This is one of the largest corporate offtake agreements in Australia and also the largest one with a solar park to date, according to the announcement. The volume under the deal equals 20% of BlueScope’s total Australian electricity purchases.

ESCO Pacific will build the 500,000-module solar plant at Finley, about 100 km west of Albury in the Riverina. The facility is expected to become operational by mid-2019. The total cost is estimated to exceed AUD 250 million (USD 184m/EUR 158m).

(AUD 1.0 = USD 0.738/EUR 0.633)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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