Equis Energy to invest $300m in two solar projects in Australia
Singapore-based Equis Energy is investing about AU$400m ($302m) into two separate solar energy projects in Australia.
The two 100MW solar plants would be built in South Australia and Queensland.
The South Australian facility, Tailem Bend, would be constructed next to a diesel-fired power station owned by Snowy Hydro, which had agreed to buy all the energy generated from the solar plant.
Construction is scheduled to begin in early 2017.
The second solar plant will be built in Collinsville North, where construction is also scheduled to start this year.
Equis said it had also secured land rights over an additional 2,000ha that would allow it to build a further 1GW of large scale solar projects, which it intends to construct over the near term.
Equis Group CEO David Russell said: “As Asia’s largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis and a unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for Australian consumers.”
Russell said: In addition, the Tailem Bend Solar Project has been developed to facilitate large scale ‘battery storage’ further enhancing the ‘base load’ like nature of the projects.”
The two solar projects are estimated to supply power to about 63,165 homes annually and will employ about 400 people during the construction phase.
The two projects can help offload about 397,000 tonnes of greenhouse gas emissions every year.
Russell said: “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.”
Image: Equis to construct and operate two solar projects in Australia. Photo: Courtesy of franky242/FreeDigitalPhotos.net.