Total Eren and New Energy Solar have both hit milestones for major PV projects in Australia, with the former hitting financial close for a plant in the Victoria state.
The 256.5MW first phase of Total Eren’s Kiamal scheme will be backed with US$175 million in debt funding from Australian bank ANZ, as well as Dutch and French counterparts ING and Natixis.
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The work of EPC Biosar, the project is being described as Victoria’s largest solar plant to date. Construction, set to add some 718,000 PV panels and single-axis trackers, should conclude later this year.
Kiamal’s first phase will also be backed by Australia’s state-owned green bank CEFC, which recently bought a US$35 million minority stake. It is backed by four PPAs – including with food giant Mars – and large-scale generation certificates with energy trader Origin Energy.
According to Total Eren, the 256.5MW frontrunner will be followed by a 213.5MW Kiamal second stage. Commercial options are being “explored” for a separate 270MW energy storage element, the firm explained.
All systems go for PV-powered Sydney trains
Across state lines, in Australia's New South Wales, a 110.9MW PV plant has initiated supply to state capital Sydney.
The installation, a project by New Energy Solar, is located a four-hour drive northwest of Sydney but will help power trains at the 4.7-million-inhabitant city under a 15-year PPA with Sydney Metro.
New Energy Solar acquired the Beryl project last year from First Solar Australia, which will continue to oversee O&M going forward.
The plant, New Energy Solar CEO John Martin said in a statement, reached commercial operations “on time and on budget” despite the 2.5MW capacity increase agreed this February.
Equipped with LONGi modules, Beryl was switched on as a separate New Energy Solar project – 199.6 MWDC Mount Signal 2 – remains under construction, with plans to hit commercial launch before the end of 2019.
