Origin Energy has formally announced the offtake agreement with Bungala solar plant in South Australia as it looks to boost capacity in the state. Origin Energy in February signed a conditional power purchase agreement with Reach Solar to buy electricity from the project. It has also affirmed its agreement to buy the entire 220 megawatts generated from the solar plant after the project reached financial closure. It’s Origin’s biggest ever solar power offtake agreement and takes to 550 megawatts of the renewable capacity it has contracted over the last year. The Bungala development will mean more jobs in Port Augusta and will also contribute to improving energy security in South Australia, as solar is a more predictable form of renewable energy as compared to wind, according to Origin boss Frank Calabria. Origin has set a target of signing up new renewables capacity of up to 1500 megawatts by the year 2020, that will most likely replace the recently closed Hazelwood plant’s capacity. Click here to read the full story on The Australian
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