BayWa r.e. sells 20 MW project in Australia

German project developer BayWa r.e. today announced that it will sell the 20 MW Hughenden solar plant, located in Queensland, to Lighthouse Infrastructure, an Australian specialist in infrastructure investments.

India is on course to more than double annual solar installs in 2017, but a slowdown could be on the cards for 2018.

Photo: Baywa r.e.

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The sale is BayWa’s first on the Australian continent, and the project should be fully operational by November 2017. The 20 MW solar plant is financed through a 13-year PPA with one of the leading energy suppliers in Australia, according to BayWa.

“We have not been on the market for a long time in Australia and have already made a successful sale,” said Matthias Taft, responsible for the energy business at BayWa AG. “This is a true testament to our growing success in the region. Australia wants to reduce high electricity prices via renewable energies, we profit from this.”

Financial details of the sale have not been provided, however BayWa r.e. stated that it was “One of the fastest solar sales, and a very positive sign of expansion in Australia”.

The developer entered the Australian market in September 2016 with the acquisition of project developer and wholesaler Solarmatrix. BayWa r.e. is currently working on three more large-scale projects down-under, with a total output of 280 MW, all of which are expected to be operational by the end of 2018.

“Australia is a really exciting market for us. Last year we opened offices in Perth and later in Melbourne,” says BayWa r.e. Managing Director Daniel Gäfke. “Since then we have been working closely with the industry and government to tap the enormous potential of renewable energies in Australia.”

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