UTS has issued a request for proposals (RFP) from large scale renewable energy projects to enter into a long term power purchasing agreement (PPA).
The large-scale renewable energy PPA RFP is part of UTS’s continued commitment to the sustainability of its operations, which includes rooftop solar PV installations on several campus buildings and energy efficiency measures.
UTS Deputy Vice Chancellor (Resources) Patrick Woods said, “UTS has a strong record of innovation in energy, with Australia’s first offsite solar corporate PPA with Singleton Solar farm, followed by another in Orange NSW and Australia’s first district cooling connection contract with Brookfield Central Park.”
Mr Woods said, “UTS is seeking to further advance this work as a credit worthy off-taker to facilitate the development of a new renewable energy project. Corporate renewable energy PPAs are a method for institutions to secure competitive and firm energy prices whilst contributing to our sustainability objectives. They’ve been particularly successful in the US for corporations seeking the benefits of renewable energy. The ACT and Victorian Governments, and Telstra have had similar success in Australia.
“Renewable generators have an advantage in that long-term prices can be secured as there is no fuel input costs, which reduces market risk. There are a number of projects around Australia already with development approval so they’re ready to break ground. They require a purchaser for the generation to be able to secure financing, so UTS can facilitate the process to allow construction of the facility.
“Combined with our onsite and mid-scale solar projects, this could see UTS renewable energy purchasing meet 40-50 per cent of our needs by 2019.”
The proposal could see the purchase of electricity and large-scale generation certificates (LGCs) for a 10-15 year period and is scheduled to be implemented within the next two years. UTS is seeking responses from renewable technology projects of suitable scale already under development.