S. Korea, Aus Team Up for 300MW Solar Plan
- Larrakia Energy and Komipo partner with Northern Territory government to create a 300-MW solar project in the Greater Darwin Area. The joint venture with Progressive Green Solutions will create jobs and help the Territory reach its 2030 economy goal.
Larrakia Energy and Korea Midland Power (Komipo) have signed a memorandum of understanding (MoU) with the Northern Territory government to jointly work on a 300-MW solar project located in the Greater Darwin Area. The two-year term agreement is a joint venture initiative between Larrakia Development Corporation and Perth-based resource and renewables company Progressive Green Solutions, with the partnership with South Korean government-owned Komipo seen to “strengthen local and international ties.” The proposal is part of the Middle Arm Sustainable Development Precinct, an industrial area that is set to be powered by renewables on the Middle Arm Peninsula of Darwin Harbour. The government has already signed agreements with Fortescue Future Industries and Total Eren for green hydrogen projects on the Peninsula. The project is expected to create jobs and help the Northern Territory reach its goal of a AUD-40-billion economy by 2030.
What Benefits Does the 300-MW Solar Project Bring?
- The project is expected to create jobs in the local community, providing economic development opportunities.
- The project is expected to reduce greenhouse gas emissions, moving the Northern Territory towards its goal to reach net zero emissions by 2050.
- The project is set to utilize renewable energy resources, reducing dependence on coal and other non-renewable sources.
- The project is expected to create a more reliable source of energy for the Northern Territory, reducing electricity costs and increasing energy security.
- The project is expected to help the Northern Territory reach its goal of a AUD-40-billion economy by 2030 by creating additional economic opportunities.
- The project is expected to increase the export of renewable energy, creating new international partnerships.
- The project is expected to create significant investment in the Northern Territory, providing much needed capital to the region's economy.
