ZEN Energy has secured one of Australia’s largest multi-state Electricity Retail Agreements (ERA) with industrial gas supplier BOC Australia that will replace more than 45% of its grid power use in Queensland, NSW and Victoria with solar energy.
Through an innovative tri-party deal with ACEN Australia, the 10-year ERA involves supplying BOC’s energy needs on the eastern seaboard up to 2035. The deal is supported by a Power Purchase Agreement (PPA) that will see ZEN purchase approximately 23% of the solar generation from ACEN’s 400MW New England (Stage 1) Solar project in NSW.
The new agreement enables BOC Australia to reduce its current carbon emissions by more than 40% by 2035. BOC is a subsidiary of industrial gases and engineering company Linde, which has a target to reduce its global emissions 35 per cent by 2035.?
“This agreement supports Linde’s global target to reduce its Scope 2 emissions by gradually increasing our use of renewable energy,” BOC Australia managing director Theo Martin said.
“In addition to lowering BOC’s emissions in Australia, it will also help our customers become more efficient and decarbonise their operations by supplying industrial gases which have a lower carbon intensity at a competitive price.”
ZEN Energy CEO Anthony Garnaut said, “BOC is ZEN’s first global customer. This demonstrates great confidence in our business model and our strategy. ZEN was the first energy company to commit to science-based targets to reduce carbon emissions, and this agreement is proof positive that BOC is firmly of the same mind and mission.
“This agreement is another milestone for ACEN Australia’s New England Solar project which stands as a major contributor to the National Electricity Market (NEM) and includes the first large-scale battery storage project to be built in New England.”
