NEOEN and GFG Alliance Ink Landmark Clean Energy Agreement

The Memorandum of Understanding (MoU) was signed in order to operate develop and work together in the sector. The main purpose of the agreement is to supply low cost power to the citizenry.

NEOEN Australia

In order to reduce the cost of energy in Australia a landmark clean energy agreement was signed between France’s NEOEN and Australia’s GFG Alliance. The occasion was witnessed by Australian Prime Minister Malcolm Turnbull and French President Emmanuel Macron.

The Memorandum of Understanding (MoU) was signed in order to operate develop and work together in the sector. The main purpose of the agreement is to supply low cost power to the citizenry.

To begin with, NEOEN CEO, Xavier Barbaro and GFG Alliance executive chairman, Sanjeev Gupta inked a power purchase agreement for SIMEC ZEN Energy to take most of the output from Numurkah Solar Farm that is situated in northwest Victoria.

NEOEN’s Numurkah Solar Farm is a 100 MW renewable energy project and has already Green Certificate Purchase agreement with Victorian Government for 38 MW.

Speaking on the occasion Mr Barbaro said, “We believe renewable energy is a game-changer and both agreements reflect a shared commitment to deliver low-cost, sustainable energy solutions into the market.”

“The switch from fossil fuels to renewable energy is the revolution of this century, transforming our economies and our impact on the environment. Such major change demands sustainable, effective solutions,” he further said.

Mr Gupta said “These agreements reflect GFG and NEOEN’s shared commitment to the goals of economic and environmental sustainability that are strongly advocated by President Macron and Prime Minister Turnbull.”

“Renewable energy is at the heart of our GREENSTEEL and GREENALUMINIUM strategies, designed to make metal production and engineering competitive again in developed countries. We see Australia – with its incomparable energy resources – as the natural home for expansion of energy-intensive industry, with renewables to play an integral role,” he further added.

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