Neoen safeguards financing for 460MWp solar farm in Australia

• International renewable energy producer Neoen has safeguarded funding for its 460MWp Western Downs Green Power Hub in Australia.

Global renewable resource manufacturer Neoen has actually secured funding for its 460MWp Western Downs Green Power Hub in Australia.

Situated near Chinchilla in South West Queensland, Western Downs Green Power Hub is stated to become the biggest solar farm in Australia.

The solar center is being built with a financial investment of A$ 600m ($427m). It protected financing from 7 loan providers, consisting of Natixis, Société Générale, Sumitomo Mitsui Banking Corporation, MUFG Bank, NORD/LB, HSBC and also Commonwealth Bank of Australia.

Entirely possessed by Neoen, the solar farm will supply clean energy to Powerlink's transmission network as well as is expected to bring substantial economic benefits to the region.

Neoen kept in mind that the solar center already has a 352MWp power acquisition contract (PPA) in position with CleanCo, Queensland's openly owned renewable energy company.

Under the PPA, the solar facility will supply tidy power to CleanCo that will certainly help the business in conference 30% of its power needs and aid it achieve its target of 1GW of brand-new renewable energy generation by 2025.

The financial investment is anticipated to generate more than 400 employment opportunities throughout the building phase in the local area and south-west Queensland region.

In May, Sterling & Wilson firm was chosen as the project's design, purchase and also building and construction (EPC) service provider, with style and design functions beginning in June.

Website mobilisation is expected in the fourth quarter of this year. The solar center is anticipated to come online in 2022.

As soon as functional, it is expected to generate clean power that will suffice to power 235,000 Queensland houses.

Neoen Australia taking care of director Louis de Sambucy said: "We are delighted to announce that Western Downs Green Power Hub has reached this crucial financial landmark. It represents a significant achievement in a tough atmosphere."