The agreement helps CSL to reduce its Scope 1 and 2 emissions
Baker McKenzie has advised biotechnology company CSL as it signed a renewable-linked power purchase agreement (PPA) with Australian energy provider AGL.
“This PPA is a big step for CSL in implementing one of our key strategic levers, renewable electricity, to help drive our enterprise-wide Scope 1 and 2 emission reductions,” said Jeffrey Ball, CSL’s chief sustainability officer.
The seven-year agreement stipulates that all electricity used by CSL’s manufacturing sites in Australia will be matched by renewable electricity certificates. Another provision gives favour to generators located in Victoria, with the goal of stimulating investment in local renewable electricity generation.
AGL secured the contract following a thorough energy market review. According to Baker McKenzie lead partner Aylin Cunsolo, AGL will initially provide large scale generation certificates expected to be produced by the Macarthur Wind Farm.
In working on the transaction, Cunsolo received support from Lewis Wolfe and Aimi Tran.
