Equis Energy has announced it will develop two large-scale solar projects in Australia as it debuts deals Down Under.
The two plants, the Tailem Bend project in South Australia and Collinsville solar farm in Queensland, will each provide a generation capacity of 100MW, involving a combined capital investment of about A$400 million ($303 million; €281 million).
The Singapore-based developer and fund manager has also secured land rights over an additional 2,000 hectares, allowing for an extra 1GW of large-scale solar projects to be built over the near term.
The Tailem Bend scheme has sealed a 22-year power purchase agreement with Australian energy company Snowy Hydro. It will be constructed alongside a 28.8MW diesel-fired power station Snowy Hydro already owns, making up a combined system capable of “providing stable power any time of the day across the entire year,” according to Equis.
Separately, the firm recently received the green light from the Whitsunday Regional Council to develop the Collinsville project.
The two schemes will rank among Australia’s lowest-cost solar generation projects, according to David Russell, Equis’ chief executive. Both plants, the construction of which is set to start this year, will be designed as “battery-storage ready” to enhance their “long-term attractiveness,” the firm added.
With over A$3.6 billion of funds under management, Equis currently owns a portfolio of over 3.6GW of renewable energy across Asia, including 1.2GW of wind, 1.7GW of solar and 693MW of hydro power.