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Coles Agreement Secures Three New Solar Power Plants

Power News - Published on Thu, 22 Aug 2019

Image Source: Coles
Solar power plants capable of generating sufficient electricity for 39,000 homes will be built in regional New South Wales following a landmark 10-year agreement between Coles and global renewable power generation company Metka EGN. In the first deal of its kind to be made by a major Australian retailer, Coles will purchase more than 70% of the electricity generated by three solar power plants to be built and operated by Metka EGN outside the regional centres of Wagga Wagga, Corowa and Junee the equivalent of 10% of Coles’ national electricity usage.

The projects announced were developed by Australian renewable energy developer Terrain Solar, with the support of advisory firm PwC, as part of a portfolio of renewable generation plants. Metka EGN acquired the portfolio earlier this year and will build, operate and own the plants.

Construction is scheduled to begin in September and the plants are expected to commence supplying power to the grid in July 2020.

The photovoltaic solar plants will supply more than 220 gigawatt hours of electricity into the national electricity grid. Producing the same amount of power from non-renewable sources would result in more than 180,000 tonnes of greenhouse gas emissions2 every year, or the equivalent of the annual emissions of 83,000 cars3.

Coles Group CEO Mr Steven Cain said the increased use of renewable energy was a major part of the company’s commitment to be the most sustainable supermarket in Australia. He said that “Coles has been a cornerstone of Australian retail for more than 100 years, and ensuring the sustainability of our business is essential to success in our second century. We are thrilled that with this agreement, Coles can make a significant contribution to the growth of renewable energy supply in Australia, as well as to the communities we serve.”

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Posted By : Ratan Singh on Thu, 22 Aug 2019
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