UK solar developer Lightsource bp has begun early construction works on two photovoltaic (PV) projects that will add 490 MW DC in New South Wales and Victoria and will sell electricity under off-take deals with Engie (EPA:ENGI), Orica (ASX:ORI) and Mars Australia.
The BP Plc (LON:BP)-backed solar power business will seek to achieve financial close on the 400-MW DC Wellington North project in New South Wales’ Orana region and the 90-MW DC Wunghnu scheme in the Goulburn Valley Region of Victoria by the end of 2022, it said on Monday.
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Claiming it is on its way to becoming Australia’s largest solar owner and developer, Lightsource bp has backed the two projects with power purchase agreements (PPAs) with mining and infrastructure giant Orica, the Aussie arm of confectionery giant Mars and French energy group Engie. Details about the procurement volumes were not available.
Lightsource bp said it is currently making early work arrangements with engineering, procurement and construction (EPC) contractor Gransolar.
Lightsource bp has 1 GWp of solar capacity in operation and under construction in New South Wales, Queensland and Victoria. In addition to solar, the company said it is exploring options to invest in hybrid renewable technologies, including battery storage, co-located wind and green hydrogen projects.
“We see the acceleration of renewables happening more rapidly than previously anticipated, and expect our operations in Australia to make a significant contribution to meeting Lightsource bp’s global target of 25GW of solar by 2025,” said Adam Pegg, managing director Lightsource bp Australia and New Zealand.