First Solar to install 155 MW of Aussie solar parks for AGL

Jul 31, 2013 - US solar module maker First Solar Inc (NASDAQ:FSLR) said Tuesday it had received an order to build 155 MW of solar plants in Australia for local utility AGL Energy Ltd (ASX:AGK).

The Australian company just achieved financial close for the projects.

As part of the engineering, procurement and construction (EPC) contract, the US firm will install a 102-MW photovoltaic (PV) park at Nyngan and a 53-MW plant at Broken Hill, New South Wales. First Solar will also supply equipment for the systems as well as deliver maintenance services for a five-year period once the solar plants become operational.

The AUD-450-million (USD 406.6m/EUR 306.7m) projects are backed by an AUD 166.7-million grant from the Commonwealth Government through the Australian Renewable Energy Agency (ARENA) and AUD 64.9 million from the government of New South Wales.

First Solar said that it expects to start building the 102-MW Nyngan solar farm in January 2014, with the aim to switch it on by the middle of 2015. Construction of the 53-MW Broken Hill plant is scheduled to commence in July 2014, with the facility to be put on stream by end-2015. When up and running, the two systems are estimated to generate about 360,000 MWh of power a year, enough to supply more than 50,000 average local households.

AUD 1.0 = (USD 0.904/EUR 0.681)

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