OneFortyOne announces $30 Million investment in renewable power generation

OneFortyOne is proud to announce a significant investment of c.$30 million in a renewable biomass power generation project at our Jubilee Sawmill.

The project, which includes the installation of a new boiler and steam turbine, represents a total investment of approximately $90 million. This initiative underscores our commitment to continuous investment, demonstrating our long-term dedication to the region, sustainability and innovation.

The Jubilee Sawmill first started producing electricity in 1956, producing energy for Mount Gambier until the 1970s.

The new turbine will generate more than enough electricity to power the entire Jubilee Sawmill site. The excess renewable electricity can be returned to the grid or used to enable future electrification of forklifts, trucks and other machinery.

It is expected to be completed by 2026 and will provide the following benefits:

• This project will help us achieve over 70% of our Scope 1 and 2 emissions reduction target
• Over 50% reduction in OneFortyOne’s total combined Scope 1 and 2 emissions[1]
• Over 85% reduction in OneFortyOne’s total Scope 2 emissions[2]
• Over 9,000 tCO₂e emissions avoided on 2021 levels
• Estimated total annual renewable electricity generated: 43,800 mWh

Wendy Norris, CEO said: “The Jubilee Sawmill has been part of OneFortyOne since 2018 and since that time we have proudly invested in the team and the site every year. The need to replace our current boiler, which is reaching its end of life, has presented us with a unique opportunity to rethink how we utilise steam and consume electricity at our site.

This investment not only supports our decarbonisation goals but also positions us for future opportunities in renewable energy.

By installing a steam turbine power generation system, we will be able to produce electricity from biomass, significantly repurposing wood fibre, preparing for our future energy needs.”

Peter Malinauskas MP, Premier of South Australia, commented: “This investment into one of South Australia’s most significant industries is exciting for our State. This is a welcome announcement, which means longevity of technology, reduced carbon emissions and renewable energy going back into the grid.”

OneFortyOne’s investment in renewable power generation at Jubilee Sawmill is a significant step towards reducing our carbon footprint and enhancing our energy efficiency. We are excited about the future possibilities this project will bring and remain committed to investing in our business, valuing our fibre and emissions reduction.

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[1] From 2021 baseline figures
[2] from 2021 baseline figures