Swinburne and Iberdrola Australia agree 100% renewable firm retail supply partnership
Organisation: Iberdrola Australia
Deal type: Retail
Technology type: Wind
Swinburne and Iberdrola Australia have entered in to a 100% renewable electricity agreement from 1 July 2020. This will drastically reduce Swinburne’s carbon emissions footprint as emissions from their electricity represent over 70 per cent of their total emissions (approximately 30,000 tonnes CO2e/year), and bring the University one step closer to their goal of being carbon neutral by 2025.
Through this arrangement, Swinburne will be procuring the equivalent of 100 per cent of their electricity load from the Cherry Tree Wind Farm, which is located near the town of Seymour in Victoria’s Goulburn Valley. This latest development underpins Swinburne’s long-standing commitment to sustainability, as well as supporting a Victorian project and employment in the region.
As Iberdrola Australia are both a Generator of renewable energy, as well as a Retailer, they have the unique ability to supply Swinburne with their renewable electricity requirements, whilst also managing the intermittency risk around a renewable project (wind) not blowing at any time. Swinburne receive a firm supply of electricity at all times, at a fixed price, with no exposure to the volatility of the spot market. LGCs are supplied direct from Cherry Tree Wind Farm matching 100% of Swinburne’s load, including additional LGCs to offset small site consumption. Additional load flexibility was provided to cater for the uncertainty resulting from the Covid-19 pandemic.
In addition, Swinburne and Iberdrola Australia have embedded a number of value-add initiatives into their contract. The two parties have partnered together to collaborate on joint research projects relating to renewable energy for smart cities, economics of climate change, climate risk reporting, data analytics, and a number of other areas. Iberdrola Australia will also be offering paid placements to Swinburne undergraduate students, conduct guest lectures for Swinburne students across a variety of courses, and work with Swinburne on a range of energy efficiency measures.
By working together, both Swinburne and Iberdrola Australia demonstrate commitment to the path to a more sustainable Australia.
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