French energy player Engie's Australian presence has secured a corporate power purchase agreement (PPA) with local property investment manager Charter Hall Group for 151 GWh of wind and solar power capacity across the company's property portfolios for 7 years.
It will be a switch to 100% renewable energy for the Australian company that's invested in more than 1,500 properties comprising industrial properties, retail centers and premium office buildings as well as early learning centers worth AUD 61.3 billion. It also claims to have an AUD 13.2 billion development pipeline.
Under the PPA, Engie Australia will supply 151 GWh annually to 152 Charter Hall sites from Lightsource bp's 214 MW DC/174 MW AC Woolooga Solar Farm in Queensland that's currently under construction and will generate 438 GWh annually on completion. The other project is Engie's own operational 119 MW Willogoleche Wind Farm in South Australia. More assets will be announced soon.
Charter Hall's Managing Director and CEO David Harrison said once the PPA kicks into effect in 2024, it will lower the group's carbon emissions by 70%, and also ensure it remains on-track to reach net zero carbon in operation (Scope 1 and 2), on or before 2030.
Harrison added, "Further, our investment in procurement of renewable electricity will assist Australia's transition to a low carbon economy and accelerate the industry's growth and potential to secure new and improved renewable technologies, to benefit generations to come."