Equis Energy has announced plans to build two solar power plants in Australia.
The $400 million projects, located in South Australia and Queensland, will have a total generation capacity of 200MW and mark the first Australian investment for the Singapore-based renewable energy developer.
Equis signed a Power Purchase Agreement with Snowy Hydro Limited for a 100MW solar project located near Tailem Bend in South Australia, which will be constructed alongside a Snowy Hydro-owned 28.8MW diesel-fired power station.
Snowy Hydro has agreed to purchase 100 per cent of the power produced from the project for at least 22 years.
Construction is expected to commence in early 2017.
“By developing the Tailem Bend Solar Project and Snowy Hydro diesel projects together, the combined system will have the capability of providing stable power any time of the day across the entire year,” Equis Group CEO David Russell said.
“In addition, the Tailem Bend Solar Project has been developed to facilitate large-scale battery storage, further enhancing the baseload-like nature of the projects.”
Developmental approval has been obtained for the second solar project, the 100MW Collinsville North Solar Project, which is expected to commence construction this year.
“The Tailem Bend Solar Project and Collinsville North Solar Project will be two of Australia’s lowest cost solar generation projects and will contribute low-cost solar power and new jobs into regional communities,” Mr Russell said.
“Both plants will also be designed as battery-storage ready, further enhancing their long term attractiveness as stable, low-cost sources of power.”
Equis said it had also secured land rights to build a further 1000MW of large-scale solar projects, which it aimed to build “over the near term”.