Mytilineos Group subsidiary Metka EGN has signed a 10-year power purchase agreement (PPA) with Australia’s second-largest supermarket chain Coles.
220 GW/h will be produced annually to power Australia’s electricity system through three METKA EGN privately owned photovoltaic parks in the New South Wales Region.
Coles’ wide network of stores will cover 10% of its energy needs by purchasing 70% of the power generated by the three METKA EGN parks with a total capacity of 120MW.
The electricity will be generated exclusively from renewable sources. Carbon dioxide emissions will decrease by 180,000t a year by using solar energy.
The project is part of the first 250MW total investment portfolio of production licenses under a build-operate-transfer (BOT) model acquired by METKA EGN this year.
Construction of the photovoltaic parks is scheduled to begin immediately, with facilities expected to start supplying Coles in July 2020.
Metka EGN and Coles contract value is A$91m.
Coles is one of Australia’s leading retail chains with more than 2,500 stores nationwide.
With this partnership, Metka EGN marks its entry in the Australian market and now has a presence in all five continents.
Metka EGN is an internationally established provider of clean energy solutions. The company aims to reduce carbon emissions in businesses.
Mytilineos is committed to sustainable development through the protection of the environment and the use of renewable energy sources.
Mytilineos is a leading Greek industrial company in metallurgy, power and gas sectors. The corporation is also involved in EPC (engineering, procurement and construction) infrastructure projects.
Established in 1990, the company is listed on the Athens Exchange, has a consolidated turnover of over €1.5 billion and employs more than 2,900 people in Greece and abroad.
Metka EGN is focused on the development and construction of utility-scale projects for the global solar power and energy storage markets.
The company serves major international clients mostly in Europe, the Middle East, Central Asia and the Americas.