Commercial electricity retailer Flow Power has signed an offtake deal through to 2030 for a quarter of the production from the Kiamal Solar Farm, in Victoria. Total Eren – developer of the $90 million, 200 MW project – has now signed three bilateral PPAs with offtakers – pointing the way for project developers as large-scale solar’s competiveness continues to grow.
One of a rising number of innovative power retailers, Flow Power has signed its first solar PPA. The deal will see the retailer source highly competitive solar electricity from the Kiamal Solar Farm in western Victoria.
Flow Power has linked the offtake deal to the Renewable Corporate PPAs it offers commercial clients – delivering reliable and sustainable electricity without the risk of significant future power increases. The company reports there is strong demand for the product.
“This agreement secures our solar output for Victoria and we are also in final negotiations with projects for additional wind output in Victoria,” Flow Power Managing Director Matthew van der Linden said. “New South Wales, South Australia, and Queensland should follow soon after, completing our first phase of projects and seeing us out for the year.”
French-based Total Eren pointed to Canadian pension fund OPTrust’s majority stake in Flow Power, obtained in February, as having helped the deal get over the line.
“We have been working with Flow Power now for more than a year, looking to create the most efficient way of structuring such an innovative solution for corporates,” said Total Eren Regional Director Michael Vawser. “The deal received the boost it needed [through OPTrust] to get to execution and we are proud to be part of a new wave of power purchase agreements.”
The Kiamal project could be expanded to 350 MW in capacity and has received council approval for a 100 MWp battery.