New South Wales
A competitive, long term power supply agreement for Cowal under a new eight-year partnership with AGL commenced in January 2023. It included a renewable energy component from a solar farm where a growing portion of the power will be from renewable sources via a Power Purchase Agreement (PPA), generating Large-Scale Generation Certifications.
This is a very important milestone for Evolution, particularly since power accounts for approximately 10% of costs to operate the mine. In a very challenging energy market, we have been able to secure both a long-term, competitively priced power contract for Cowal, and a growing renewable component that provides us a clear pathway to reducing Evolution’s energy and emissions by 30% by 2030.
As a result of this PPA, there is potential for the scalability of the partnership, and extension of our decarbonisation efforts, to our other operations.