Mytilineos new power purchase agreement in Australia

MYTILINEOS Greek Corporation Mytilineos.

Mytilineos SA is strengthening the position of its Renewables and Storage Development (RSD) Business Unit in the international energy market by cooperation in Australia with QEnergy (part of ION Holdings) for a power purchase agreement (PPA), the Greek group announced on Monday.

This PPA was executed on WePower’s blockchain-based renewable energy procurement and trading platform, one of the largest international energy trading and trading platforms. In doing so, Mytilineos takes full advantage of the platform’s cross-border capabilities and introduces, for the first time in Greece, a new approach and method to buying and selling energy, based on extroversion and innovation.

The PPA leverages upon Ethereum-based smart contracts, technology and processes, allowing QEnergy to deliver power directly to its customers.

Under the 10-year PPA, QEnergy will purchase the majority of energy production from the 22-megawatt extension to the Wagga North Solar Farm (Wagga 2), acquired from Terrain Solar in 2019. The PPA will enable construction of Wagga 2 to commence this year.