The plant in Hughenden, Queensland, is one of the first solar projects of BayWa r.e. in Australia. Hughenden is financed through a Power Purchase Agreement (PPA) with one of the leading energy suppliers in Australia - the agreement is currently being extended to 13 years.
Matthias Taft, Member of the Management Board of BayWa AG and responsible for the energy business, explains: "We have not been on the market for a long time in Australia and have already made a successful sale. This is a true testament to our growing success in the region. The solar sector in Australia wants to reduce the high electricity prices via renewable energies, we profit from this."
The project will be Lighthouse Infrastructure's second Utility Scale PV investment advised by companies such as Planum Partners, Herbert Smith Freehills and WSP.
For BayWa r.e, this was one of the fastest solar sales and a very positive sign of expansion in Australia. The plant is to be fully operational by the end of October 2017.
BayWa r.e. is currently investing in three other major projects in the north of Victoria and Queensland. Once these plants are completed, they will deliver a combined output of almost 280 MW. All projects are expected to generate electricity before the end of 2018.
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