Equis Energy to develop two large-scale solar projects in Australia

The projects will be worth US$302.5m.

Independent renewable energy developer and investor Equis Energy recently approved the development, construction and operation of two solar projects in South Australia and Queensland, Australia with a total generation capacity of 200MWAC.

The projects will involve a capital investment of approximately US$302.5m (A$400 million).

Equis has also secured land rights over an additional 2,000 hectares allowing for an additional 1,000MWAC of large scale solar projects to be constructed over the near term.

Equis has signed a Power Purchase Agreement (PPA) with Snowy Hydro for a 100MWAC solar project located near Tailem Bend, South Australia (Tailem Bend Solar Project), which will be constructed alongside a Snowy Hydro owned 28.8MWAC diesel-fired power station.

Snowy Hydro currently owns and operates 5,500MW of generation capacityacross Australia, including the iconic 4,100MW Snowy Hydro-electric Scheme. Snowy Hydro has agreed to purchase 100% of the power produced from the Tailem Bend Solar Project for at least 22 years. Construction of the Tailem Bend Solar Project is expected to commence in early 2017.

The Tailem Bend Solar Project will be one of the lowest cost solar projects in Australia. The combined power and large-scale generation certificates price of the Tailem Bend Solar Project is approximately 40% less than prevailing South Australian market prices, delivering significant savings to South Australian consumers.

Separately, development approval has recently been obtained from the Whitsunday Regional Council for a 100MWAC solar project in Collinsville North, Queensland, Australia (Collinsville North Solar Project), to be constructed on land close to the Collinsville North substation.

Construction of the Collinsville North Solar Project is expected to commence in 2017. To be developed entirely by Equis, the Tailem Bend Solar Project and Collinsville North Solar Project will bring the number of renewable energy projects under development and construction by Equis to 49.