Equis Energy has approved the development, construction and operation of two solar projects in Australia with a total generation capacity of 200 MW.
The projects will involve a capital investment of approximately AUD400 million (US$307 million).
Equis has also secured land rights over an additional 2,000 hectares allowing for an additional 1,000 MW of large scale solar projects to be constructed over the near term.
Equis has signed a Power Purchase Agreement (PPA) with Snowy Hydro Limited for a 100 MW solar project located near Tailem Bend, South Australia, which will be constructed alongside a Snowy Hydro owned 28.8 MW diesel-fired power station. 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 100 MW solar project in Collinsville North, Queensland, to be constructed on land close to the Collinsville North substation. Construction of the Collinsville North Solar Project is expected to commence in 2017.
The Tailem Bend Solar Project and Collinsville North Solar Project will:
David Russell, Equis Group CEO, commented:
“The Tailem Bend Solar Project and Collinsville North Solar Project will be two of Australia’s lowest cost solar generation projects and will contribute low cost solar power and new jobs into regional communities. Both plants will also be designed as “battery-storage ready” further enhancing their long term attractiveness as stable, low cost sources of power."