Sojitz, Eneos Invest in Australia's Largest Solar Plant
- Sojitz and Eneos are powering Australia with the launch of the 204MW Edenvale Solar Park. The largest solar power plant in Australia run by Japanese investors, this marks the second large solar power plant the two have jointly invested in as part of their commitment to reducing their reliance on fossil fuels.
It is the second large solar power plant in Australia that Sojitz and Eneos have jointly invested in, following the launch of the 131-MW Kiamal Solar Farm in October 2020.
On Monday, Sojitz and Eneos announced the launch of the 204-megawatt Edenvale Solar Park in Queensland, Australia. The two companies each hold a 50% stake in the joint venture that runs the plant, which is the largest solar power plant in Australia run by Japanese investors. This is the second large solar power plant in Australia that Sojitz and Eneos have jointly invested in, following the launch of the 131-MW Kiamal Solar Farm in October 2020. The investment is part of their commitment to diversifying their portfolios to meet "net zero" targets and to bring overseas experience back home to reduce reliance on fossil fuels.
What is the Result of Sojitz and Eneos' Second Joint Solar Investment in Australia?
- The Oak Trail project is a result of a joint investment between Japanese trading house Sojitz and oil refiner Eneos, in collaboration with Leeward Renewable Energy LLC.
- The facility is expected to be operational by the fourth quarter of this year and will be able to generate enough electricity to power approximately 16,000 homes.
- The project is expected to provide economic benefit to the local community, providing more than USD 10 million in local taxes over the lifespan of the project, as well as hundreds of construction jobs.
- In total, the project is expected to offset up to 400,000 metric tons of carbon emissions.
- Upon completion, Sojitz and Eneos's second joint solar investment in Australia will help secure a more sustainable and reliable energy supply for the country.