Origin adds 530 MW renewable energy and sets new benchmark for pricing

Origin Energy announced that it has signed an agreement with Goldwind to sell Stockyard Hill Wind Farm, Australia’s largest wind development, for $110 million and sign a long-term PPA from the commencement of operations in 2019 to 2030. Origin also agrees to buy all of the power generated by the wind farm and the associated Renewable Energy Certificates for a market leading PPA price of below$60/MWh.

Origin CEO, Frank Calabria said that today’s announcement is important as it indicates just how fast the transition is occurring in Australia’s energy market. Not only is renewable energy being rolled out rapidly, the costs have fallen at a very fast rate. Through their deal with Goldwind, Origin has been able to add a substantial amount of new renewable energy to their portfolio at a market leading PPA price. And, as Stockyard Hill is in Victoria, this will help to cover a large portion of the load of the recently retired Hazelwood Power Station.

He further added that As Origin looks to a future where renewables will dominate Australia’s energy supply, they are in a very strong position to build one of the nation’s lowest cost renewables portfolios.

Image Source: Origin Energy