Mytilineos secures funds for 120MW Munna Creek Solar

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Athens-based Mytilineos SA has secured $160 million in debt for the 120MW Munna Creek solar project, to be located 40km north-west of Gympie in Queensland, Australia.

Related article: Mytilineos opens 110MW Moura Solar Farm in Queensland 

The capital was provided by Deutsche Bank AG in the form of senior debt financing, RenewablesNow reported.

Construction on the 150MW Munna Creek solar project are set to start this year, with commissioning expected in 2025.

Once operational, the solar plant will produce 300,000MWh of clean electricity annually, meeting the energy needs of approximately 40,000 homes.

Mytilineos already has two power purchase agreements (PPA) secured with Australian telecom Telstra Corp Ltd and local broadband wholesaler NBN Co.

Mytilineos recently cut the ribbon on its 110MW Moura Solar Farm in Queensland—the first of the company’s Queensland projects to commence operation. The project will generate enough electricity to power approximately 44,000 Australian homes.

Related article: Mytilineos and SmartestEnergy ink solar PPA

Mytilineos’ Australian portfolio currently includes six sites located in New South Wales and Queensland, each between 30 and 110MW, as the company continues to invest and to consolidate its position in the country.

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