Insurance services provider GCube has added its name to the team building Australia’s first large-scale (10MW) PV power plant, using First Solar CdTe thin-film modules. GCube said it had underwritten the Greenough River Solar Farm, near Geraldton, Western Australia, which included marine transit, liability and construction insurance for the project. The project is owned by Western Australian electricity generator Verve Energy and GE Energy Financial Services.
“Since the introduction of the Government’s Solar Flagship Programme in 2009 Australian appetite for large-scale PV and thermal initiatives has begun to ramp up and there are a few significant projects on the horizon,” said Charlie Richardson, senior underwriter, GCube. “This has led to a whole swathe of established, overseas investors and manufacturers taking a longer-term interest in the market and the opportunity that it offers. However, while the Government has been keen to offer these firms access to future financial incentives, grants and support, the development of multi-megawatt projects takes patience, planning and time.”
First Solar is in charge of all the engineering, procurement and construction duties on the flagship system and also supplying over 150,000 modules to the project. It will also be in charge of site operation and maintenance when building work is completed in mid-2012.