Innogy buys solar power projects rights worth 460 MW in Australia

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Innogy buys solar power projects rights worth 460 MW in Australia

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The projects, located in New South Wales, were acquired from Overland Sun Farming, Innogy said, adding construction was expected to start in 2018.

FRANKFURT: German energy firm Innogy on Wednesday said it bought the project rights for two solar power plants in Australia worth more than 460 megawatt, as it continues its renewables expansion push outside Europe.

The projects, located in New South Wales, were acquired from Overland Sun Farming, Innogy said, adding construction was expected to start in 2018. Total investment volume, including purchase price, stands at more than 400 million euros ($494 million). ($1 = 0.8089 euros)