AGL, Microsoft sign 15-year renewable energy certificate deal
This is following AGL’s power purchase deal with Tilt Renewables.
AGL Energy inked a 15-year renewable energy certificate (REC) agreement with Microsoft, providing Microsoft with certificates from the Rye Park wind farm project in New South Wales.
In a statement, AGL said the REC provided is under AGL’s recent power purchase deal with Tilt Renewables where it will offtake 45% of the wind farm’s output or around 513 gigawatt-hours annually, under a 15-year agreement.
“Supply agreements for renewable energy certificates can help to increase the viability of new renewable energy projects by providing the projects with an additional revenue stream," said AGL COO Markus Brokhof.
Holders of RECs such as large-scale generation certificates may opt to on-sell the certificates or surrender them to the Clean Energy Regulator to acquit their mandatory liability in line with the renewable energy legislation or to reduce their existing carbon emissions.