In pursuit of net zero, Telstra has signed a new power purchase agreement with Ark Energy, for the delivery of 350GWh of clean energy per annum.
The agreement will secure Telstra a portion of Ark Energy’s output from the MacIntyre Wind Farm in South East Queensland – set to be one of the world’s largest onshore wind farms.
Ark Energy owns a 30 per cent stake in the 923.4MW MacIntyre Wind Farm, which is part of ACCIONA Energía’s MacIntyre Wind Precinct and the largest wind farm in Australia.
Telstra Group Executive for Product and Technology, Kim Krogh Andersen, said the agreement built on previous significant investments Telstra has made in solar parks, wind farms and carbon farming.
“We have now supported more than $1 billion of renewable energy projects across Queensland, Victoria and New South Wales,” Mr Krogh Anderson said.
“When these projects are fully operational, our share of their renewable energy output will be more than two-thirds of our consumption, a long way toward our target of 100 per cent by 2025.”
Mr Krogh Andersen said the development of renewable energy projects would not only reduce Australia’s reliance on carbon-intensive fossil fuels, but also make economic sense.
“These projects are a sound investment in a sustainable future. They provide affordable and reliable energy and they create jobs for regional communities,” he said.
“Agreements like this one also help insulate Telstra from fluctuating wholesale electricity prices. Our annual power bill is equivalent to 300,000 household power bills, so signing long-term renewable energy agreements helps us to manage our costs.
“We have more work to do to achieve our target. Encouragingly, we are seeing a range of good opportunities in the local renewable market and we’re looking forward to partnering with more high-quality generators to secure the long-term success of their projects.”
With 180 turbines, the MacIntyre Wind Precinct will produce a total of 1,026MW of renewable electricity, enough to power the equivalent of 700,000 homes.
The precinct is expected to require a workforce of around 400 people over the life of the precinct and generate economic activity across the Goondiwindi, Southern Downs and Toowoomba Regional Council areas.
Ark Energy Chief Executive Officer, Daniel Kim, said the agreement underscored Ark Energy’s commitment to support large commercial and industrial customers to decarbonise and accelerate the energy transition.
“We are delighted to be working together with Telstra on this landmark project and play a tangible role in helping the telco achieve its ambitious renewable energy target,” said Mr Kim.
The agreement between the two organisations is subject to Ark Energy finalising its financial arrangements.
