Funds in place for $ 100m solar plant
CONSTRUCTION of a $ 100 million Collinsville solar project could start within weeks after developer Ratch Australia yesterday announced financial close on a 42.5 megawatt scheme.
It is among about $ 1.5 billion in renewable projects under way or set to begin in North Queensland this year after a flood of investment finance.
But whether the projects can deliver the price reductions or base load supply needed to save industries such as Townsville’s copper refinery is unclear.
Refinery owner Glencore last week warned it would be forced to consider shutting its copper processing assets if electricity prices continued to rise and called for high efficiency low emission coal- fired technologies.
Ratch development manager Anthony Yeates said construction of the Collinsville solar farm could start before the end of May.
Ratch has signed a grid connection agreement with Ergon Energy, while the Federal Government’s Clean Energy Finance Corporation is committing $ 60 million in debt.
The Australian Renewable Energy Agency has agreed to $ 9.5 million in grant funding. Alinta Energy had agreed to purchase the farm’s electricity and Large- scale Generation Certificates to the end of 2030.
The solar farm will feature around 180,000 solar photovoltaic panels and is adjacent to the old Collinsville coalfired power station to take advantage of existing electrical infrastructure.
The project is expected to be operational by June 2018 and produce enough energy to meet the needs of almost 15,000 homes.
Mr Yeates said the project would have a peak construction workforce of around 120 and employ two permanent staff once complete.
Ratch is developing the 180MW Mount Emerald Wind Farm near Mareeba.
Other North Queensland projects listed by the Clean Energy Council include Coenergy’s $ 42.5 million Lakeland solar and storage, FRV’s $ 190 million Clare solar farm, Genex’s $ 126 million Kidston solar farm, Tableland Sugar Mill’s $ 75 million bagasse project, Canadian Solar and Scouller Energy’s $ 14 million Normanton solar farm, Sun Metals’ $ 200 million solar farm, ESCO Pacific and Palisade’s $ 200 million Ross River solar farm and Windlab’s $ 155 million Kennedy wind, solar and storage project.