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Greek investor buys second Australian solar farm

Greek investor buys second Australian solar farm


Construction is expected to begin “shortly” on the 110MW Moura solar farm in Queensland’s Banana Shire after the project was bought by Greek industrial company, Mytilineos.

Esco Pacific said on Tuesday that it had completed the sale of the power purchase agreement-backed project, which is ready to build at a site 6.5km south-west of the Central Queensland town also called Banana (yes, really).

The project marks the sixth that Esco Pacific has developed and delivered to market in Australia, and the second it has sold to the Renewables and Storage Development (RSD) Business Unit of Mytilineos in as many weeks.

Mytilineos just last week bought Esco Pacific’s Wyalong solar farm, which is ready for construction in the New South Wales Riverina region.

Esco managing director Steve Rademaker said the sale of Moura solar farm was a fantastic outcome for the company, bringing its developed project capacity to 681MW of utility-scale solar in Australia.

Queensland government-owned generation company CS Energy, which signed the PPA for the solar farm, said the Moura formed an important part of its growing portfolio of renewable energy offtakes.

Esco said construction on the Moura solar farm was now expected to begin shortly, creating up to 150 jobs. Once complete the project will generate energy to power the equivalent of 40,000 Queensland homes.

Source : greekcitytimes
Anand Gupta Editor - EQ Int'l Media Network