First Solar closes financing for 48.5MW solar project in New South Wales

The Manildra Solar Farm has received AU$9.8 million (US$7.5 million) of grant funding from ARENA. Credit: First Solar

US integrated PV firm First Solar has reached financial close on a 48.5MW(ac) solar project in New South Wales, Australia.

The Manildra Solar Farm has received AU$9.8 million (US$7.5 million) of grant funding from the Australian Renewable Energy Agency (ARENA) under its large-scale solar funding round. A 13-year power purchase agreement (PPA) has also been signed with EnergyAustralia, a major utility that is set to sign PPAs for 500MW of wind and solar projects across eastern Australia.

The project will use 466,000 First Solar thin-film modules and single-axis trackers to produce more than 120GWh per year for the equivalent of 14,000 households.

Jack Curtis, First Solar regional manager for Asia Pacific, said: “We have witnessed unprecedented cost reductions in large-scale solar in recent years. As the appetite for this asset class continues to grow, timely and reliable project delivery will be the strongest driver of future cost reductions, cementing solar as a competitive energy source in Australia.”

First Solar has also appointed local engineering firm O’Donnell Griffin to provide EPC services for the project. Construction is scheduled to commence in the first half of 2017 and once complete in 2018, First Solar will have more than 400MW(ac) of solar PV installed in Australia.

ARENA chief executive Ivor Frischknecht said: “By supporting innovators like First Solar, ARENA has fast-tracked the development of substantial new Australian industries like the large-scale solar sector, which is now on the cusp of being commercial.”

Read Next

September 21, 2022
A new consortium has been formed in Queensland with a MOU to build a green ammonia corridor between Australia and Korea.
PV Tech Premium
September 19, 2022
The proliferation of solar requires PV projects to adapt to their grid surroundings, which increasingly entails connecting alongside adjacent technologies, be it energy storage, other renewables or green hydrogen. Amid the growing threat of curtailment, Jules Scully looks at the rise of the ‘solar-plus’ market and the financial models underpinning it.
September 15, 2022
Declan Flanagan, former CEO of Orsted Onshore, has launched a renewables investment platform with an initial capital of US$100 million.
September 6, 2022
Spanish utility giant Iberdrola has committed to invest between €2-3 billion (US$1.99-2.99 billion) in renewables in Australia.
September 5, 2022
Naturgy has bought a large-scale hybrid solar-plus-storage project in development in Australia.
August 31, 2022
Inline solar cell measurement equipment specialist Aurora Solar Technologies (AST) has acquired PV equipment specialist BT Imaging for 63 million in common shares and over US$1.2 million in cash.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
September 27, 2022
15:30 AEST (UTC +10)
Solar Media Events
October 4, 2022
New York, USA
On-Demand Webinars, Solar Media Events
October 11, 2022
Virtual event
Upcoming Webinars
October 18, 2022
10am (EDT) / 4pm (CEST)