Greek Developer Mytilineos Secures Funding for 230 MW Solar Projects in Australia

Jan 17, 2023 12:06 PM ET
  • Mytilineos notified that two solar projects are in Queensland and also one in New South Wales.
  • The money assistance for the solar projects has actually originated from ANZ and Westpac that are two of Australia's Big Four banks.

Greek commercial and also energy large Mytilineos has actually secured funding of A$ 234 million for another 3 solar farms. Mytilineos notified that two solar projects remain in Queensland and one in New South Wales. This also marks the last closing of the secondly of projects pipe that come from Mytilineos in Australia.

Mytilineos claimed that the financing assistance for the solar projects has originated from ANZ as well as Westpac that are two of Australia's Big Four banks.

The two solar power farms in Queensland are Moura and also Kingaroy having capacities of 110MW and also 53MW respectively. Wyalong in New South Wales has a capacity of 75MW.

All of the 3 solar energy projects are in different phases of advancement. Moura has actually currently been completed and is going through hold-point testing. Construction has actually recently begun at the solar farm at Kingaroy. The Wyalong project is only partially established.

The growth work at Wyalong started in the middle of 2022 as well as Mytilineos will be offering regarding fifty percent of the renewable resource generated in the solar project to NBN Business. Mytilineos has actually signed a 10-year PPA which is likewise NBN's initial such bargain as the company wants to achieve 100% renewable resource work in its procedures by the end of 2025.

The Moura solar project lies in Banana Shire of Queensland and Mytilineos already has a PPA inked with CS Energy which is a state-owned utility. The Kingaroy solar project also has a PPA with Smartest Energy which is Marubeni possessed DISCOM.

All three projects were acquired by Mytilineos in 2019 and 2020 and also it is creating these through among its subsidiaries. Based on reports, Mytilineos will be installing a Synchronous Condenser for global green energy company RWE for its project in the UK. Mytilineos claims to have an expanding profile of 8.5 GW in renewable energy projects and also storage in Greece as well as various other nations.

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