Canadian Solar selling stakes in Australian projects to Foresight Solar Fund

Facebook
Twitter
LinkedIn
Reddit
Email
All three PV power plants with an aggregate 117MWp of capacity are currently under construction with the Oakey 1 and Longreach plants expected to be completed and grid connected in March and September 2018, respectively. Oakey 2 solar farm is expected to be connected to the grid in October, 2018. Image: Canadian Solar

‘Silicon Module Super League’ (SMSL) member Canadian Solar is selling various interests in three solar farms in Queensland, Australia to UK-based renewables firm, Foresight Solar Fund.

Canadian Solar is selling 49% stakes in two plants, Longreach Solar Farm (17MWp) and Oakey 1 Solar Farm (30MWp) to Foresight Solar Fund, while the renewables firm will purchase the Oakey 2 Solar Farm (70MWp), outright. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

All three PV power plants with an aggregate 117MWp of capacity are currently under construction with the Oakey 1 and Longreach plants expected to be completed and grid connected in March and September 2018, respectively. Oakey 2 solar farm is expected to be connected to the grid in October, 2018.

The projects account for all of Canadian Solar’s ‘late stage’ project portfolio in Australia. However, the company has a further 113MWp of projects planned in the country post 2018. 

Foresight Solar Fund and Canadian Solar are expected to partner on some or all of these future projects. 

Ricardo Pineiro, Partner, Foresight Group said: “We are delighted to have made this solar acquisition in Australia on behalf of FSFL. We have enjoyed working closely with Canadian Solar, with whom we look forward to delivering a strong pipeline of future energy projects both in Australia and other international markets.”

The Oakey 1 and Longreach plants hold 20-year off-take agreements with the Queensland Government, while the Oakey 2 will sell electricity via large-scale generation certificates (LGCs) under the Renewable Energy Target regulatory framework in Queensland.

Both Oakey 1 and Longreach were said to have been initially funded by equity from Canadian Solar, grants from the Australian Renewable Energy Agency (ARENA), and senior debt from the Clean Energy Finance Corporation (CEFC) and Bank of Tokyo-Mitsubishi UFJ. 

Read Next

July 15, 2025
Malaysian utility company Tenaga Nasional Berhad has officially launched a floating solar pilot project, which could help unlock 2.2GW of generation capacity.
July 15, 2025
Ingeteam has expanded its footprint in Australia by announcing it will supply the 243MWp Maryvale Solar and Energy Storage Project in New South Wales.
July 14, 2025
Australian renewables developer Edify Energy has submitted plans for a 300MWac solar-plus-storage site in Victoria to Australia’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 14, 2025
ACWA Power has signed power purchase agreements (PPAs) with Saudi Power Procurement Company (SPPC) for five solar PV projects in the country.
July 14, 2025
Elements Green has secured €80 million (US$93.5 million) in financing from Danish investment firm Copenhagen Infrastructure Partners (CIP).
July 14, 2025
Solar and storage developer MN8 Energy has raised US$575 million to refinance three PV projects in North Carolina, Kentucky and Illinois.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK