Luminous Energy eyes 1.2GW pipeline as works start on ‘springboard’ Australia project
Oct 29, 2019 03:33 PM ET
Luminous Energy has commenced connection works on its 162MWac solar farm in Australia, with the developer eyeing up 1.2GW of works across multiple markets.
Grid connection has started at the Columboola Solar Farm in Queensland, which is Luminous’ maiden project in Australia and its largest solar farm to date.
Construction of the solar farm itself is due to commence early next year and, with consultancy services giant PricewaterhouseCoopers working to secure investment on Luminous’ behalf, several bidders have already been shortlisted.
That process has been running now for several months and the company said it expected a sale to conclude in the coming weeks.
Luminous Energy added that the Columboola plant would serve as a “springboard to consolidate growth” in its existing markets while eyeing up new ones.
The developer has brought several sites to market in the UK, albeit during that market’s boom years under the now-defunct Renewables Obligation support mechanism, however, it has various other shovel-ready solar and energy storage projects it is looking to bring to market in the country.
Luminous’ pipeline, which it says has a combined market value totalling more than £900 million (US$1,157 million), also spans the US and Chile.
Paul Chivers, non-executive director at Luminous, said the company stood “poised for significant global growth”.
“The international results it has achieved with limited resources show its great potential and I’m extremely excited about the future for this ambitious and agile UK company,” he said.