Zen Energy’s Major Deal with Boc Australia
Zero emissions energy provider Zen Energy has finalised a significant three-way agreement to support the east coast operations of industrial gas leader Boc Australia with renewable energy sourced from Australia’s largest solar farm.
The 10-year deal, described by Zen as one of the most extensive multi-state Electricity Retail Agreements (ERA) in Australia, will replace over 45% of Boc’s grid power consumption in Queensland, New South Wales, and Victoria with renewable energy.
Renewable Energy Sourced from New England Solar Farm
The renewable energy will be sourced through a power purchase agreement (PPA), with Zen purchasing approximately 23% of the output from Acen Australia’s 400-megawatt (MW) New England solar farm in New South Wales.
The initial phase of the New England solar farm, located near Uralla in northern NSW, currently has a capacity of 400 MW and is set to expand to a leading 720 MW upon completion of the second phase.
Construction has commenced on a large battery at New England, expected to reach a capacity of 200 MW and 400 MWh.
Milestone for Renewable Energy Project
David Pollington, Managing Director of Acen Australia, highlighted that the agreement with Zen to supply power to Boc signifies a significant milestone for the New England solar and battery project.
He stated, “This partnership with Zen Energy allows us to advance additional renewable energy initiatives, providing clean electricity to Australian households and businesses while reducing reliance on higher-emission generators.”
Boc’s involvement in the deal aligns with the emission reduction goals set by its parent company, Linde, aiming to decrease Boc Australia’s emissions by over 40% by 2035.
Theo Martin, from Boc, emphasised that apart from reducing BOC’s emissions in Australia, the agreement will assist customers in enhancing efficiency and decarbonising operations by offering industrial gases with lower carbon intensity at competitive prices.
Transition to Renewable Energy
For Zen Energy, backed by Ross Garnaut, supplying Boc marks a significant milestone as its first global customer for the “zero emissions now” retail energy product developed from scratch.
CEO Anthony Garnaut expressed, “This deal exemplifies the shift to renewable energy on a large scale, showcasing substantial progress in industrial sustainability and emissions reduction through a genuine partnership between Boc, Acen Australia, and Zen.”
Acen Australia’s New England solar farm represents the company’s primary operational asset in Australia, with the Stubbo solar farm nearing completion in the NSW central west.
The company’s Valley of the Winds project in NSW, with a capacity of 936 MW, has been recognised as the largest among the 19 winners of the federal government’s inaugural Capacity Investment Scheme tender for new wind and solar projects.
Additionally, Acen has secured a long-duration storage underwriting agreement in NSW for the Phoenix pumped hydro project.
The collaboration between Zen Energy, Acen Australia, and Boc signifies a significant step towards achieving sustainable energy practices and reducing emissions, showcasing a commitment to a cleaner energy future.
