Orica's Commitment to 100% Renewable Electricity by 2040
Orica aims to power its business with 100% renewable electricity by 2040, with a 60% goal by 2030. To achieve this, Orica has secured a PPA for its NSW operations and is sourcing renewable electricity for its Carseland facility.
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Lightsource bp Partnership
As part of this journey, Orica has entered into a PPA with Lightsource bp for renewable electricity generated by the Wellington North solar farm. This solar farm, located approximately 50 kilometres southeast of Dubbo, New South Wales, will generate 915 GWh of renewable electricity per year, saving over 730,000 metric tonnes of carbon emissions.
Orica’s PPA with the Wellington North solar farm has the capacity to supply around 50% of the company’s Australian electricity needs, and 30% of its global requirements, with an equivalent reduction in global Scope 2 emissions of approximately 60,000 metric tonnes of carbon emissions annually. This is equivalent to powering 19,000 NSW residences each year.
What is a Power Purchase Agreement
A Power Purchase Agreement (PPA) for renewable electricity is a contract between an electricity generator and a customer, in this case Orica, enabling the company to secure long-term renewable electricity at stable prices. By entering into PPAs, such as the agreement with Lightsource bp for the Wellington North solar farm, Orica not only mitigates exposure to volatile electricity markets but also supports the development of renewable energy projects. This approach ensures a reliable supply of renewable energy, fosters job creation, and contributes significantly to Orica's goal of achieving 100% renewable electricity by 2040. Through these strategic partnerships, Orica is committed to driving the clean energy transition and making a meaningful impact on global sustainability.
Discover how Orica is reducing emissions, enhancing safety, and driving positive change in the mining and infrastructure sectors.
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