Origin Energy’s first ever commitment to buy power from a large-scale solar farm is the latest sign of the improving economics of solar energy.
The energy company said it had signed a power purchase agreement for all output for the next 15 years from the recently commissioned 56MW solar farm near Moree in northern NSW.
Origin already has nine agreements in place to buy power from various wind farms across Australia, but, until yesterday, had not made similar commitments to solar projects.
Origin chief executive of energy markets Frank Calabria said the deal reflected the improvements made in the cost competitiveness of large-scale solar.
“Solar technology has improved dramatically over the past few years and the cost has come down as a result,” he said. Moree
“There has never been a better time for Origin to pursue large-scale solar opportunities and fulfil its aspiration to be one of Australia’s leading renewable energy companies.”