SmartestEnergy Commits to Procure Power from 333-MW Darlington Point Solar Farm
- Australian energy retailer SmartestEnergy has committed to procuring 25% of the output from the 333-MW DC Darlington Point solar farm in New South Wales, the largest solar complex in Australia, under a long-term deal with Octopus Australia.
What happened?
Australian energy retailer SmartestEnergy has entered into a long-term deal with Octopus Australia to procure 25% of the output from the 333-MW DC Darlington Point solar farm located in the Riverina region of New South Wales. The solar farm was commissioned in 2020 and is currently the largest solar complex operating in Australia, generating enough electricity to cover the demand of around 110,000 homes annually. The duration of the power purchase agreement was not disclosed by the source (SmartestEnergy).
Why does it matter?
SmartestEnergy's commitment to procuring power from the Darlington Point solar farm is significant because it will provide commercial and industrial companies with renewable energy, helping them in their sustainability efforts. The Darlington Point solar farm is also significant because it is currently the largest solar complex operating in Australia, making it an important contributor to the country's renewable energy production. The power off-take deal with SmartestEnergy comes after the Darlington Point solar farm already had a power off-take deal in place with Delta Electricity for electricity from 150 MW of its capacity.
What's next?
The Darlington Point solar farm was developed by Australia’s Edify Energy and was the first acquisition of UK-based Octopus Investments’ Aussie arm through its AUD-10-billion (USD 6.57bn/EUR 6.96bn) renewable energy platform launched in the summer of 2022. It is likely that Octopus Investments will continue to make investments in renewable energy projects in Australia and beyond. In addition, with the increasing demand for renewable energy, it is expected that more companies like SmartestEnergy will enter into similar power purchase agreements in the future. This will help to further drive the growth of renewable energy production and use, leading to a more sustainable energy future.
