Lightsource BP secures AU$330 million for second and third Australian solar projects

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Lightsource BP’s 260MW Impact Solar project in Texas. Image: Lightsource BP.

Lightsource BP has secured AU$330 million (US$255 million) to fund the development of two utility-scale solar projects in Australia.

The developer, a joint venture part-owned by oil and gas major BP, has now broken ground on its West Wyalong and Woolooga solar projects located in New South Wales and Queensland after receiving construction financing from investors EDC, ING, Intesa Sanpaolo and Westpac. The projects, which are expected to be completed by mid-2022, will bring 520MWac of solar capacity to Australia’s electricity grid when they come online and produce roughly 673GWh of electricity annually, the company said in a statement. Local solar company Pacific Rim Pty, a subsidiary of PCL Constructors has been commissioned to carry out construction on the projects.

The new projects mark Lightsource BP’s second and third ventures in the Australian solar market, after the company was granted planning permission last month to build out a 400MWdc solar park near Wellington, New South Wales.

Adam Pegg, Lightsource BP Australia’s country manager, said the three projects underway and the developer’s additional 1.5GWdc Australian project pipeline establish it as “a leader in the Australian solar market.”

“Although COVID-19 has disrupted the energy landscape, we are proud to be able to start construction and complete the financing of two large solar projects on a subsidy-free basis, demonstrating the resilience of solar as a sustainable solution to meeting the rising global energy demands.”

Read Next

June 18, 2021
Horizon Power and PXiSE Energy Solutions have successfully powered the Australian town of Onslow with completely renewable energy, demonstrating the potential of microgrid technology
June 18, 2021
Lightsource BP has added 703MW to its Spanish pipeline through the acquisition of projects from Grupo Jorge, bringing its total pipeline in Spain to 3GW.
June 10, 2021
Queensland will invest AU$2 billion (US$1.55 billion) on renewables and hydrogen jobs to support the Australian state’s economic recovery from COVID-19 and help it deliver on its 50% clean energy target by 2030.
June 8, 2021
Solar PV and wind will continue to be the cheapest sources of new electricity generation capacity in Australia, even when integration costs are included, according to new research from the country’s science agency, CSIRO, and the Australian Energy Market Operator.
June 7, 2021
New Energy Solar has secured a deal to sell two PV projects in New South Wales for AU$288 million (US$223 million), marking the solar investor’s exit from Australia.
June 3, 2021
The New South Wales government has launched a registration of interest process for Australia’s largest renewable energy zone (REZ), which is expected to deliver as much as 8GW of capacity.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021