Ed­ify to de­velop two so­lar farms

The Australian Energy Review - - NEWS - El­iz­a­beth Fabri

ED­IFY En­ergy has re­ceived the green light to be­gin con­struc­tion on two new so­lar farms in Collinsville, Queens­land that will col­lec­tively gen­er­ate 200 megawatts (MW) of en­ergy.

The Day­dream (150 MW) and Hay­man (50MW) so­lar projects will com­mence con­struc­tion this Septem­ber, with com­mer­cial op­er­a­tions to be­gin mid 2018.

The projects were un­der­pinned by a ‘land­mark’ finance deal in­volv­ing a first-time in­vest­ment in the Aus­tralian re­new­able en­ergy in­dus­try by global in­vest­ment man­age­ment firm Black­rock, and a $90 mil­lion loan from the Clean En­ergy Finance Cor­po­ra­tion (CEFC) as part of a syn­di­cated debt fa­cil­ity.

RCR Tom­lin­son was awarded a $315 mil­lion con­tract to un­der­take En­gi­neer­ing, Pro­cure­ment and Con­struc­tion (EPC) works for both projects, and O&M ser­vices for an ini­tial pe­riod of 10 years, with an op­tion for a fur­ther five year term.

Ori­gin En­ergy has also se­cured a power pur­chase ar­range­ment (PPA) to buy out­put and re­new­able en­ergy cer­tifi­cates from Day­dream un­til 2030, while en­ergy gen­er­ated from Hay­man will be sold into the grid on a mer­chant ba­sis.

Ed­ify En­ergy chief ex­ec­u­tive John Cole said the com­ple­tion of the project brought Ed­ify’s port­fo­lio to five so­lar farms, and marked the next stage of its plan to grow an in­te­grated clean en­ergy busi­ness in the coun­try.

“We are de­lighted to have closed an­other large util­ity scale so­lar PV fi­nanc­ing trans­ac­tion,” Mr Cole said.

“With a pipe­line of projects un­der devel­op­ment, we look for­ward to play­ing a mean­ing­ful part in the de­car­bon­i­sa­tion of the Aus­tralian en­ergy sec­tor”.

CEFC chief ex­ec­u­tive Ian Lear­month said the ac­cel­er­a­tion of large-scale so­lar projects in high in­so­la­tion ar­eas like north Queens­land was help­ing drive Aus­tralia’s clean en­ergy trans­for­ma­tion.

“We are look­ing to finance projects that en­hance grid sta­bil­ity while de­vel­op­ing new re­new­able en­ergy gen­er­a­tors,” Mr Lear­month said.

“These two new projects have the abil­ity to in­te­grate fu­ture stor­age so­lu­tions, in­creas­ing the clean en­ergy ben­e­fits to the grid.”

The projects were ex­pected to cre­ate about 300 jobs dur­ing the con­struc­tion phase.

Im­age: Stock.

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