Singapore’s Equis invests A$400 million in new Australian solar projects
06 Apr 2017
Equis Energy (Equis), Asia’s largest independent renewable energy developer, has approved two solar projects involving capital investment of approximately A$400 million.
In a media release, Equis announced it will manage the development, construction and operation of the projects, which will be constructed in South Australia and Queensland and have a total generation capacity of 200MWAC.
The company has also secured land rights over a further 2,000 hectares, allowing for the future construction of an additional 1,000MWAC of large-scale solar projects.
Both projects combined will supply the annual power needs of 63,165 homes and employ more than 400 people during the construction phase.
David Russell, Equis Group CEO, says the solar projects will be two of Australia’s lowest cost solar generation projects and will contribute low-cost solar power and new jobs in regional communities.
‘Both plants will also be designed as “battery-storage ready” further enhancing their long-term attractiveness as stable, low cost sources of power,’ he says.
Collinsville North Solar Project
Equis has obtained development approval from the Whitsunday Regional Council for a 100MW solar project in Collinsville North, Queensland. Construction is expected to commence in 2017 on land close to the existing Collinsville North substation.
Tailem Bend Solar Project
Equis has signed a power purchase agreement with Snowy Hydro Limited for a 100MWAC solar project located near Tailem Bend, South Australia. Construction is expected to commence in early 2017.
Snowy Hydro is an integrated Australian energy business that currently owns and operates 5,500MW of generation capacity across Australia, including the 4,100MW Snowy Hydro electric Scheme. The company has agreed to purchase 100 per cent of the power produced from the Tailem Bend Solar Project for at least 22 years.
‘As Asia’s largest renewable energy developer and investor, the Tailem Bend Solar Project represents an exciting expansion into Australia for Equis,’ adds Russell.
‘It is a unique opportunity to leverage our development and construction expertise to deliver low cost, large scale, reliable renewable energy for Australian consumers.’
Founded and headquartered in Singapore, Equis, alongside its invested platforms and affiliates, is Asia’s largest independent renewable energy developer and investor. Equis is also Asia’s largest independent energy and infrastructure fund manager. With more than A$3.6 billion of funds under management, Equis and its invested platforms employ over 600 professionals across 15 Asian offices.