EEW plans 1 GW of non-contracted large solar in Australia - report
Solar park. Author: Chris Baird. License: Creative Commons, Attribution 2.0 Generic.
The Australian unit of UK-based Eco Energy World (EEW) plans to implement 1 GW of large-scale solar projects in Queensland, Australia, without contracts, its chairman told RenewEconomy.
Eco Energy World Australia last week won planning consent to build the 140-MW Aramara solar farm on Queensland’s Fraser Coast. It does not intend to delay the project by waiting for a power purchase agreement (PPA) to be signed with a utility. Instead, the company will sell the plant’s output on the spot market, chairman Svante Kumlin told the publication.
Construction on this first Aussie project for EEW is expected to start within a few months. Kumlin added it is likely that the Aramara development will be funded with equity, but believes that lenders will be willing to finance future projects.
The company has five other projects totalling 440 MW in Queensland in various stages of planning plus a further 560 MW in the pipeline also in that state.