German company WIRSOL Energy Pty Ltd has reached financial close for the construction of the Wemen Solar Farm in Victoria and the Clermont Solar Farm in Queensland, adding 199MWp to its existing asset portfolio.
The projects are being financed on a fully merchant basis with a long-term debt facility from the Clean Energy Finance Corporation (CEFC) and equity provided from WIRSOL’s parent WIRCON, headquartered in Germany. Both projects have been contracted to RCR Tomlinson for the EPC buildout and longer-term O&M contracts, with asset management contracted to CWP Renewables.
Wemen Solar Farm and Clermont Solar Farm represent an overall investment of approximately $375 million and follows on from the previous three projects WIRSOL announced in March 2017 of a similar fiscal investment of $380 million.
The Wemen and Clermont projects will commence construction in January 2018 and are scheduled for connection to grid during late 2018.
WIRSOL Energy Pty Ltd non-executive director Bill Calcraft said: “Adding these two projects of 199MWp to our existing portfolio highlights the significant movement we have had on the Australian solar industry to date. The team here in Australia have accomplished major achievements since our entry earlier this year with no evidence of the WIRSOL movement slowing down. As 2017 ends on a hugely positive note, we are set to enter an ambitious 2018 with an impressive pipeline.”