Genesis Energy and Spark sign 10-year PPA for Lauriston solar farm

The solar farm will start operations by the end of 2024.

Genesis Energy and Spark New Zealand signed a 10-year power purchase agreement (PPA) for the electricity generated from the first solar farm in Lauriston Canterbury.

In a statement, Genesis said the 63-megawatt Lauriston will commence construction and is expected to start generating power by the end of 2024, to be purchased by Spark.

“The kind of long-term commitment shown by Spark will enable new renewable generation to come online faster, by providing projects with commercial backing and increasing confidence to invest in further developments,” said Genesis Chief Executive Malcolm Johns.

Johns added that this partnership will also support the company’s plan to invest over (A$1b) in new renewable energy in the country.

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The agreement will also boost Spark’s target of a 56% reduction in Scope 1 and Scope 1 emissions by 2030, from a 2020 baseline. The power from the Lauriston solar plant will comprise around 60% of the company’s annual power requirements, with the remaining to be sourced by Genesis from the Grid.

Renewable Energy Certificates will also be provided to allow a transparent tracking and reporting of the energy supplied to Spark.

The two companies also aim to look into adding more renewable energy opportunities to allow Spark to operate using renewable energy fully in the future.