The government of Australia’s New South Wales state on Friday unveiled a contract to buy the green energy certificates from France-based Neoen’s 24-MW Dubbo solar project.
The contract for the purchase of Large-scale Generation Certificates (LGCs) starts from July 1, 2019 and expires on December 31, 2030. According to the state government’s press statement, it will help New South Wales meet 15.6% of its obligations under the Renewable Energy Target (RET).
“This lays the foundation for more renewable energy procurement, which will deliver more power supply for the state and put more downward pressure on prices,” said Don Harwin, Minister for Energy and Utilities.
The Dubbo solar project will consist of two ground-mounted plants in Dubbo South Keswick and Narromine. Once operational, the complex is expected to generate enough power for about 10,000 homes per year. Neoen Australia Pty Ltd achieved financial close in February and soon after that started construction with EPC contractor Bouygues Construction. The developer expects to connect the plants to the grid in early 2018.
The Dubbo plan was one of the three developments by Neoen that in September 2016 were collectively granted AUD 16 million (USD 12.02/EUR 10.2m) in funding from the Australian Renewable Energy Agency (ARENA) and AUD 150 million in debt from the Clean Energy Finance Corporation (CEFC).
According to Don Harwin’s statement, News South Wales “leads Australia in large-scale solar,” as three of the country’s largest operating PV parks are situated there. In addition, more plants are being constructed, he added.
(AUD 1.0 = USD 0.751/EUR 0.639)
Choose your newsletter by Renewables Now. Join for free!