Australian renewables developer CleanPeak Energy has acquired five new solar farm development sites located across NSW from Fortitude Renewables.
Of the five projects, CleanPeak Energy has completed the acquisition of four projects at Ashley, Gunnedah, Dubbo, and Culcairn. An additional site at Warialda, is likely to be completed in the new year pending DA approval.
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Each acquired project has a DA and connection agreement for a 5MW solar farm and battery energy storage system (BESS). Together, these new battery and solar projects will contribute an additional 25MW of solar capacity and 100MWh of battery storage capacity to CleanPeak’s existing portfolio.
The farms will move into construction in 2026 and should be operational by early 2027. Once operational, these additional generation and storage assets will produce 90GWh of energy and ~85,000 LGCs per annum.
The completed projects will underwrite several new customer contracts including Harris Farm and NAB which together constitute ~80GWh of energy that CleanPeak has committed to deliver.
The acquisition will be funded via shareholder equity commitments and is the first acquisition since we announced the strategic partnership with KKR who have committed $500m of funding to CleanPeak.
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CleanPeak Energy CEO Philip Graham said, “The acquisition of the Fortitude portfolio allows us to accelerate the delivery of green energy to our portfolio of contracted customers.
“This transaction is another example of our company moving quickly to capitalise on high-quality assets that fit well within our portfolio.”
