Power Purchasing Agreement

NCIG has executed a Power Purchase Agreement (PPA) with Lightsource BP, a global leader in renewable energy infrastructure. This agreement will see NCIG’s operations powered entirely by renewable energy from 2030 onwards, further accelerating our progress toward achieving Net Zero operational emissions by 2030.

Annually, NCIG uses approximately 80 GW/h of electricity, currently sourced from the national grid and partially offset using Large Generation Certificates (LGCs). The PPA secures a reliable, locally sourced renewable energy supply that will effectively offset our Scope 2 emissions, ensuring the sustainability of our operations. This aligns with our broader efforts to enhance the energy efficiency of our facilities, led by our Energy Management Working Group.

Since 2021, NCIG has purchased LGCs to partially offset our Scope 2 emissions, in line with our Sustainability Targets. While this approach has been cost-effective and relatively simple to implement, we recognised that as a responsible business, we needed to do more to actively contribute to the availability and use of renewable energy within heavy industry. This led to an extensive search for a PPA partner that could provide locally sourced renewable energy, while also contributing to the broader availability of renewable energy to the grid.

This PPA marks a pivotal moment for NCIG as we executed the agreement ahead of the financial close of the project. Although this presents inherent risks, it plays a vital role in supporting the project’s financial viability. Our investment into the Goulburn River Solar project will have a meaningful and impactful contribution towards achieving our long-term sustainability goals.

NCIG is proud to be a partner in the solar farm, as one component of Net Zero Transition Plan.