Large Scale Solar Industry Soars With 12 New Plants Securing Funding

Australia’s large-scale solar industry is now showing evidence that it’s on solid ground, with 12 new power plant projects recently awarded grant funding by the Australian Renewable Energy Agency (ARENA) reaching financial close this month.

It also means that the projects are fully funded and have locked in engineering, construction and grid connection agreements, as well as council and environmental approvals.

Construction has already begun in 9 of the 12 ARENA funded plants, and the other 3 are in the works with the New South Wales White Rock solar farm and the final project to reach financial close last week.

ARENA chief executive, Ivor Frischknecht said there were at least 6 more plants being developed in Australia without grant funding. It suggests the plant program had succeeded in establishing a self-sustaining industry.

Once the 12 power plants are completed, it will provide enough electricity to power 150,000 homes and account for 10% of the new capacity needed to meet Australia’s 2020 renewable energy target.

Click here to read the full story in The Guardian