METKA EGN signs solar PPA to supply leading Australian retail chain
Greek EPC contractor METKA EGN has entered an agreement with Coles, the second-largest supermarket chain in Australia, for a 10-year electricity supply contract (PPA), with all the power to be generated from renewable sources, according to a press release from the subsidiary of Greek industrial giant Mytilineos Holdings.
The contract value for Greek EPC contractor is EUR 55.5 million, the company said.
METKA EGN will generate 220 GWh annually to power Australia’s electricity system through three solar photovoltaic (PV) power plants in the New South Wales region owned by the Greek company. With the use of solar energy, carbon dioxide emissions will be reduced by 180,000 metric tons per year.
Coles’ wide network of stores will cover 10% of its energy needs by purchasing 70% of the power generated by the three METKA EGN projects
Coles’ wide network of stores will cover 10% of its energy needs by purchasing 70% of the power generated by the three METKA EGN projects, with a total capacity of 120 MW, METKA EGN said.
Construction on the solar parks is scheduled to begin immediately, with the facilities expected to start supplying Coles and the grid in July 2020
Construction on the solar parks is scheduled to begin immediately, with the facilities expected to start supplying Coles and the grid in July 2020. The three solar parks are part of a 260 MW investment portfolio of production licenses under a “Build, Operate & Transfer” model acquired by METKA EGN in June 2019.
This partnership marks METKA EGN’s dynamic entry into the Australian market, and the company is now present on all five continents, according to the press release.
METKA EGN has completed or has under construction over 1 GW of solar projects in Europe, Africa, Asia, the Americas, and Australia, as well as over 100 MW of storage projects in the UK and Puerto Rico. The company’s project development track record extends to more than 200 MW of successfully connected projects in several EU countries.