Commercial, Wind - April 17, 2020
ALDI signs PPA with 336 MW wind farm
ALDI Foods announced April 15 that they have signed a 10-year PPA for 6% of the output from a 336 MW wind farm.
The grocery chain executed the agreement with the Dundonnell Wind Farm project with Tilt Renewables Limited. The Australian wind project received a Support Agreement in 2018 from the Victorian State Government as part of the Victorian Renewable Energy Auction Scheme and the PPA with ALDI takes the total long-term contracting of output from the wind farm to approximately 93%. This is the developer’s first PPA with a corporate entity end user.
“This 10‐year PPA is the result of a competitive process and our success in that process clearly demonstrates the quality of the Dundonnell project and the capability of the Tilt Renewables team,” Deion Campbell, TLT Chief Executive, said in a statement. “We are excited to have established our first corporate PPA with a partner as iconic as ALDI. The majority of the production volume from the Dundonnell Wind Farm is contracted with strong counterparties, and this PPA provides further revenue certainty from the project. The company continues to be well positioned to continue delivering shareholder value via large investment opportunities from our high‐quality development pipeline, which is considered the best in the region.”
The ALDI off-take agreement is scheduled to commence at the beginning of 2021.