Utility Scale PV

In addition to entering an agreement to purchase three hydro power stations in Australia, New Zealand’s energy retailer has signed three PPAs for wind and solar projects in Victoria and New South Wales. 

Chinese module maker and project developer Canadian Solar has acquired a 51% stake in project pipeline of five utility scale solar farms in New South Wales. The projects, which are at an early stage, were initiated by Netherlands-based Photon Energy NV.

Australia’s fast-growing renewable sector is driving job creation. The latest analysis from Green Energy Markets reveals that almost 15,700 people were employed in large scale renewable development in Australia in December 2017, with a further 5,477 full-time jobs in rooftop solar.

New South Wales’ largest large scale solar project has reached financial close, with the Clean Energy Finance Corporation (CEFC) stepping in to provide debt finance for the project. The two organisations have now worked together to develop 260 MW of renewables in regional NSW.

Another big utility scale project solar project has taken a step forward in Queensland. The Munna Creek Solar Farm, which is the only project currently being proposed by REST Energy, was approved this week and welcomed by local Mayor as “fantastic news”.

SolarReserve’s 150 MW solar thermal power plant has been granted development approval by the South Australian Government, paving the way for construction to begin this year.

The Clean Energy Finance Corporation (CEFC) is continuing to foster utility scale PV growth in Queensland, providing $55 million in non-recourse project finance to the Oakey 2 Solar Farm. Canadian Solar will supply modules for the project and will also serve as EPC.

After agreeing to provide debt finance to two Wirsol projects with a combined capacity of 200 MW, the Clean Energy Finance Corporation (CEFC) has achieved the milestone of having funded 1 GW of large scale solar projects. The two loans to Wirsol allow construction of the projects to get underway before PPAs have been signed.

France’s Akuo Energy has achieved a milestone in the development of a 50 MW solar PV plant in Bali. The project indicates that Indonesia’s new renewable program may lead to an increase in PPAs for renewable projects in certain regions.

Chinese/Australian developer Maoneng has signed a 15-year PPA to provide energy company AGL with 300 MW of PV projects, to provide up to 800,000 MWh of electricity per year. The projects form part of AGL’s plan to replace the coal-fired Liddell Power Station, set to close in 2022.