Arab Today, arab today australias largest energy retailer buys large solar output as industry heats up
Last Updated : GMT 22:20:05
Arab Today, arab today
Arab Today, arab today

Australia's largest energy retailer buys large solar output as industry heats up

Arab Today, arab today

Arab Today, arab today Australia's largest energy retailer buys large solar output as industry heats up

electricity
Sydney - XINHUA

Australia's largest power and gas retailer Origin Energy Ltd. has signed its first contract to purchase electricity from large-scale solar project to meet its renewable energy target following renewed interest in the local sector.

Origin announced on Thursday it has committed to a 15-year deal to buy all output and renewable energy certificates from the 164 million Australian dollar, 56 megawatt Moree Solar Farm in northern New South Wales state, which recently began production, to help meet the company's liability under the nation's renewable energy targets (RET).

Earlier uncertainty over Australia's RET has caused energy retailers to hesitate to commit to long-term contracts to purchase their requirements, however renewed interest in the industry following the September 2015 party-room coup that instilled Malcolm Turnbull as Prime Minister is driving price rises in renewable energy certificates that underpin the target.

"Stability is starting to return to the Australian renewable energy market," Fotowatio Renewable Ventures (FRV), which built the solar farm with U.S. private equity, chief executive Rafael Benjumea said in a statement.

Origin is aspiring to become one of Australia's leading renewable companies, applying to Australian authorities for funding a large-scale project in central Queensland state.

"Solar technology has improved dramatically over the past few years and the cost has come down as a result," Origin Energy head of energy markets Frank Calabria said.

In early December 2015, Origin was given local marketing and distribution rights of Telsa Motors Inc. solar lithium ion battery storage product called Powerwall, used for storing solar energy for home power usage and charging electric cars.

Australia has the highest per-capita rooftop solar power mainly due to high retail prices for energy.

Origin is packaging the Tesla storage solution with PV solar panels from Trina Solar Ltd and inverters from Israeli-based SolarEdge technologies.

Australian climate advocates have said coupling solar PV panels with high capacity battery storage could be the cheapest way to obtain electricity within three years, creating a 24-billion-Australian dollar industry if just half of the nation's households adopted the technology.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today australias largest energy retailer buys large solar output as industry heats up Arab Today, arab today australias largest energy retailer buys large solar output as industry heats up

 



Arab Today, arab today
Arab Today, arab today Accessories designer reveals her new collection

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection
Arab Today, arab today Laptop ban sparks ire

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
Arab Today, arab today AT&T, Verizon join Google ad boycott

GMT 10:30 2017 Thursday ,23 March

AT&T, Verizon join Google ad boycott

GMT 11:50 2017 Thursday ,23 March

Bulgaria's economy: a tale of extremes

GMT 15:54 2017 Wednesday ,22 March

Amazon deal for Souq.com is back on

GMT 13:03 2017 Wednesday ,22 March

Germany should ditch austerity, embrace EU investment

GMT 10:43 2017 Wednesday ,22 March

Bags carry Hermes to record profit
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today Number of unwedded girls amounts to 2.5m

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 13:11 2017 Tuesday ,21 March

Web-based counseling lowers blood pressure

GMT 10:18 2017 Tuesday ,21 March

Kuwait's tourism industry to be worth

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday