APA takes FID, secures off-taker for 44-MW solar project in Queensland
- Australian power framework business APA Group (ASX: APA) has taken a final investment decision (FID) on the initial stage of an 88-MW solar project in Queensland.
The 44-MW phase among the Mica Creek photovoltaic (PV) facility will be installed in Mount Isa, North West Minerals Province, at a complete expense of over AUD 80 million (USD 60.2 m/EUR 51.8 m). The developer claimed on Monday that a 15-year power purchase agreement (PPA) has been signed with neighborhood zinc miner MMG Dugald River to safeguard the power off-take.
The solar park will be developed at a website rented by the state federal government and located near APA's Diamantina combined-cycle gas wind turbine power facility. Its first phase is because of go on the internet by the initial quarter of 2023.
APA is on the other hand holding innovative talks with several customers to commit to the growth of phase two.
"The Mica Creek Solar Farm will certainly provide reduced discharges power underpinned by the reliability of APA's gas-fired power, while decreasing the typical cost and discharges of power across Mount Isa," claimed Rob Wheals, APA's CEO and also taking care of director.