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Amazon’s $20 billion investment to support new solar farms
- Amazon is set to invest $20 billion over the next five years to expand its data center network in Australia and support the development of three new solar farms.
- European Energy has signed power purchase agreements with Amazon's Australian arm for over 170 MW from the three large-scale solar farms.
- The investment will help expand Amazon's cloud computing business in Australia and underwrite two new solar farms in Victoria and one in Queensland.
- The PPAs cover the operational 58 MW Mokoan Solar Farm and two pre-construction projects in Victoria.
- European Energy is developing the 100 MW Winton North and Bullyard solar farms under the agreements.
- The PPAs reflect Amazon's commitment to renewable energy goals, aiming to match 100% of its electricity consumption with renewable energy globally by 2040.
- Data centers in Australia are significant power consumers, with projections showing their electricity usage could grow to 8% of the grid by 2030.
- Amazon has invested in eight solar and wind projects in Australia to power its operations, contributing to over 1.4 million MWh of renewable energy annually once all projects are operational.
- European Energy sees the Amazon deal as key to establishing Australia as a primary market, with over 5 GW under active development and plans to develop more solar farms across the country.
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