Allens has advised leading Australian gold mining company Evolution Mining on an eight year renewables-backed retail power purchase agreement (PPA) with AGL.
Under the terms of the agreement a portion of the power will be renewable with scope to increase the amount of renewable energy over time, supporting Evolution's commitment to reducing its energy emissions by 30% by 2030.
'This deal reflects an increasing focus from corporates on ESG considerations and decarbonisation,' said Partner Kate Axup.
'We have seen mounting pressure in recent years, particularly on business within the mining sector, to decarbonise their operations. We were delighted to work with Evolution on this important step.'
The agreement provides Evolution with price certainty and long-term security for the supply of energy to Evolution's Cowal operation.
