Telstra has signed a power purchase agreement (PPA) with Munna Creek Solar Farm Investments, to buy renewable energy amounting to 100 per cent of its consumption, the telco incumbent said.
Under the agreement, Telstra will buy half of the output of the 120 MW Munna Creek Solar Farm in near Gympie in Queensland.
The Munna Creek project has a construction value of $150 million and has been acquired by multinational renewable energy provider Mytilineos which operates four solar farms in Australia, with another four to be built.
It spans a total project area of 470 ha, is expected to generate enough renewable energy to power around 50,000 homes.
Telstra group executive of product and technology, Kim Krogh Andersen said Munna Creek is the telco's fifth PPA.
Its existing PPAs include renewable energy from Emerald Solar Park and MacIntyre Wind Farm in Queensland, along with Murra Warra Wind Farm in Victoria and Crookwell Wind Farm in New South Wales.
Telstra is targeting to meet 100 per cent of its power consumption with renewables by 2025, and by 2030, achieve at least a half reduction in absolute emissions compared to the 2019 financial year.
By 2050, Telstra said it will achieve net zero greenhouse gas (GHG) emissions in line with the Paris agreement.
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