March 30 (Renewables Now) - Lyon Group has plans to build a 330-MW solar farm with 100 MW of energy storage capacity in Riverland, South Australia, Lyon partner David Green told reporters today.
Construction is expected to start in June and the park can be completed by the end of the year, local media said, citing Green. Land for the project has been secured and the company has made progress with the grid connection.
The Riverland project will be completely financed with equity, with the total investment seen at about AUD 1 billion (USD 761.6m/EUR 706.4m).
Lyon is backed by US hedge fund Magnetar Capital. It also has a solar-plus-storage partnership with Mitsubishi Corp (TYO:8058) with plans to build 1 GW of solar power generation capacity and 500 MWh of storage in Australia by the end of the decade.