Melbourne Renewable Energy Project - Collaborative Procurement to Achieve Price Certainty and Low Carbon Goals
12:30 - 1:00
The Melbourne Renewable Energy Project (MREP) marks the first time in Australia that a group of local governments, cultural institutions, universities and corporations have collectively purchased renewable energy from a newly built facility.
MREP supports the construction of a new wind farm at Crowlands, a small agricultural community about 2.5 hours from Melbourne by car. The 39-turbine 80 MW capacity wind farm will be twenty kilometres north east of Ararat, in Western Victoria. It will be owned and operated by Melbourne-based clean energy company Pacific Hydro, and the power will be supplied by its retail arm, Tango Energy.
Under this project, members have committed to purchase 88 GWh of electricity per year from the Crowlands Wind Farm under a long-term power purchase agreement. The agreement will now enable Pacific Hydro to progress financing and construction arrangements for the project; and because the wind farm will generate more than the purchasing group's needs, it will bring additional renewable energy into the market.