The PPA leverages upon Etherium (ETH) based smart contracts, technology and processes, allowing QEnergy to deliver power directly to its customers.

Specifically, under the 10-year PPA, QEnergy will purchase the majority of energy production from the 22 MW extension to the Australian Wagga North Solar Farm (Wagga 2), acquired from Terrain Solar in 2019.

The PPA will enable construction of Wagga 2 to commence this year. This is in addition to the recently announced acquisition of the 110 MW Moura Solar Farm in Queensland, Australia, and 75 MW Wyalong Solar Farm in New South Wales, Australia, along with three other projects (120 MW) in New South Wales that are currently under construction. Once constructed, the second stage of Wagga North Solar Farm will generate enough electricity to power approximately 5000 Australian homes.

Nikos Papapetrou, General Manager of the RSD Business Unit stated: “Having worked through WePower's standardised contracts and processes on the Wagga transaction, we envisage using WePower to market and contract other projects in our growing pipeline.”

Warren Murphy, Chief Executive Officer of QEnergy, said: “We are excited to leverage WePower's digitised PPAs to offer our retail customers the opportunities to buy energy from local renewable energy projects as well as reduce their energy bills. All retail clients will get full transparency where their energy comes from and how it was generated.”

The RSD Business Unit of MYTILINEOS and QEnergy are planning a series of similar partnerships in response to energy market demands for standardised, streamlined and low-cost blockchain-based energy trading mechanisms.

MYTILINEOS was advised by Allens on the acquisition.

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Spring 2021 issue

The Spring issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including GlobalData, Atlas Copco, Watlow, QED Naval, TRACTO, AB Energy, and more.