Electric Kiwi launches open tender to encourage renewable energy projects
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123RF
Small power retailer Electric Kiwi is looking to spur the development of renewable energy projects through long term power deals.
It's calling on developers to tender for long-term power purchase agreements (PPAs) and potentially a battery storage tolling arrangement.
Electric Kiwi will offer successful tenderers 10-to-15 year deals to buy their renewable power, guaranteeing itself a long term supply of power, while giving generators a guaranteed buyer to justify the investment in a project.
"This is a significant opportunity for New Zealand's renewable developers to have their existing facility or planned project backed by a long-term commercial agreement," Electric Kiwi chief operating officer Nick Haines said.
"A PPA with Electric Kiwi represents a win-win. Importantly, we get price stability and diversity of supply, while developers get long-term purchase agreements that can unlock financing and help accelerate their projects."
He said the PPAs were part of the company's plant to expand its business by focusing on securing long-term, fixed-price supply from new renewable generation across New Zealand.
The tender is being managed by EVA Marketplace, with expressions of interest being accepted for the next couple of weeks, and firms bids to be lodged by September.
EVA founder Paul Coster said their role was to broker "high quality, enduring agreements for Electric Kiwi while ensuring a fair, competitive process for developers".
Electric Kiwi has more than 80,000 customers, mostly domestic, and last year briefly suspended taking on new customers because of high wholesale electricity prices.
The company has been a loud critic of the dominance of the major four gentailers - Contact, Genesis, Meridian and Mercury - and the operation of the overall electricity market.
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