Japan's Sojitz, Eneos invest in 204-MW solar park in Queensland

Jun 11, 2021 11:44 AM ET
  • Japanese trader Sojitz Corp (TYO:2768) as well as compatriot oil company Eneos Corp will certainly buy a 204-MW solar farm in Queensland and also have launched building of the project, it was revealed on Thursday.
Japan's Sojitz, Eneos invest in 204-MW solar park in Queensland
Image: Sojitz Corp

This is Sojitz as well as Eneos' initial solar project in Australia. The business acquired full possession of the Edenvale solar project via a just as owned joint endeavor from Singapore-based DPI Solar 3 Pte Ltd. The solar park in Edenvale, in the Western Downs Regional Council area, has actually been under development considering that 2019 by DPI, Sojitz and also Eneos.

The solar farm will market 70% of its power to a neighborhood electrical energy seller, while part of the remaining 30% will certainly be supplied to Sojitz's Gregory Crinum coal mine in the Australian state.

A project money agreement has been signed with France's Natixis, as well as a design, procurement and construction (EPC) agreement with the Australian subsidiary of Spain's Grupo Gransolar SL.

Sojitz claimed it sees Australia as a high-growth market provided its huge land area as well as high solar radiation as well as the expanding interest on the part of companies to acquire renewable resource using business power acquisition agreements (PPAs).

Hailing the investment, the Queensland government claimed its worldwide trade agency, Trade and also Investment Queensland, aided in promoting the financial investment.

Eneos said the project is part of its efforts to achieve carbon neutrality by 2040, which include increasing its renewable energy services in Japan and also abroad. The firm is likewise aiming to produce a supply chain for carbon-free hydrogen in Australia.

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