TOKYO : Japan’s biggest oil refiner Eneos Holdings and trading house Sojitz Corp said on Thursday they will build a 204 megawatts (MW) solar power farm in Queensland, Australia.
The 50-50 joint venture of Eneos and Sojitz has bought 100% stake in Edenvale Solar Park Pty Ltd, the operator of the project, from Singapore’s DPI Solar 3 Pte Ltd, the two Japanese firms said in the statements.
The terms of the deal were not disclosed.
It marks the first solar project in Australia for both Eneos and Sojitz and they aim to start operation of the farm in the second half of the financial year to March 2023.
The project has been under development since 2019 by DPI, Eneos and Sojitz, and construction started this month at the site, about 300 km west from Brisbane.
Out of the power to be produced at the solar farm, 70% will be sold to local electricity retailer while a part of the remaining 30% will be supplied to the Gregory Crinum coal mine, which Sojitz owns and operates in Queensland.
Eneos President Katsuyuki Ota told Reuters last year that the company will hasten its transformation into a supplier of low-carbon energy and materials as domestic oil demand drops and that it was eyeing renewable energy projects in Australia to make CO2-free hydrogen.