A six year Power Purchase Agreement (PPA) between Insurance Australia Group (IAG) and renewable solutions company, CleanPeak Energy will source 20% of IAG’s consumption from the Grong Grong Solar Farm.
The 1.5 MW / 3,700 MWh, Komo Energy developed and community-funded Grong Grong Solar Farm (GGSF) is located in the New South Wales (NSW) Riverina region and has the capacity to power up to 700 households and reduce 3,100 tonnes of annual emissions.
GGSF is also home to Australia’s first solar garden, called Haystacks, which uses retailer, Energy Locals, to credit electricity bills of the farm’s cooperative of owners, who are based anywhere in Australia.
CleanPeak Energy Chief Executive Officer and Founder Philip Graham said the agreement with IAG will not only support the Grong Grong community solar project but also provide support for new solar farms to be built across the National Electricity Market (NEM) in regional locations.
“Our partnership with IAG and our focus on delivering tailored solutions for multi-site customers is exactly how we can accelerate the transition to net zero.”
Grong Grong Solar Farm Director Jonathon Prendergast said GGSF has over 700 shareholders, some who have invested as little as $250, and the first large scale solar garden hosted there creates clean energy equity.
“Where members previously were unable to access the benefits of solar energy, they are now able to participate with electricity generated from GGSF fed into the grid and credited to their electricity bills,” he said.
“Through IAG facilitating an offtake agreement with CleanPeak Energy, the future of GGSF’s future is secured, enabling more customers to participate in the journey to net zero.”
IAG’s Head of Sustainability Lee McDougall said the alliance with GGSF provides an opportunity for IAG to support one of the communities it serves, while showcasing how large corporations can innovate to invest in community-led initiatives as Australia transitions to net zero,” he said.
CleanPeak Energy will begin providing 100% renewable energy to IAG from 1 January 2025, including IAGs claims supply chain businesses, Motorserve and RepairHub, located across Australia and New Zealand (NZ).
The NZ sites will be 100% powered with renewable energy through an agreement with the country’s first and only Toitū climate positive electricity provider, Ecotricity NZ.
Ecotricity NZ CEO Al Yates said the company is proud to partner with IAG on its sustainability journey, by providing 100% renewable, Toitū climate positive electricity.
“Together we are making great progress towards decarbonisation of Aotearoa New Zealand,” he said.
Toitū Envirocare is an NZ-based, internationally recognised company supporting business with science-based strategies to reduce their carbon footprint and be more sustainable.
