Maoneng reaches financial close on 255MW PV project

Australian PV developer and renewable-energy asset owner Maoneng Australia has reached financial close on the 255MW Sunraysia Solar Farm.

The PV project will be the largest solar farm to begin construction in Australia this year, and will be one of the largest in the country upon completion.

The project is supported by two Power Purchase Agreements (PPAs) under which UNSW Sydney and AGL Energy (AGL) will purchase energy over 15 years.

Decmil will provide EPC contracts for the installation, while also undertaking the project’s operations and maintenance when the solar farm is completed. Maoneng will act as both the construction manager during the construction phase and the asset manager during operations of the plant.

Kevin Chen, director of project finance and M&A of Maoneng, said: “The 15-year solar supply agreement with UNSW is the first of its kind in Australia – bringing together a retailer, developer and corporate. We are honoured to allow UNSW to achieve its goal of carbon neutrality on energy use by 2020 and look forward to our long-term partnership.”

Tags: maoneng, australia