S Korean firm to buy Luminous' 162-MW PV project in Queensland

UK solar developer Luminous Energy has reached financial close on its 162-MW Columboola solar project in Queensland after an agreement to sell the scheme to South Korea’s Hana Financial Investment Ltd (KRX:700001).

The milestone paves the way for construction works to begin this month, Energy Minister Anthony Lynham said in a press release on Friday. The power plant is planned to become operational by the end of next year.

The Columboola project envisages the installation of bifacial panels and single-axis trackers at a site between Chinchilla and Miles in southwestern Queensland. The entire output of the solar park will be sold to publicly-owned utility CS Energy, which will offer it to its commercial and industrial retail clients.

A unit of India’s Sterling and Wilson Solar Ltd (BOM:542760) is tasked with building the photovoltaic (PV) park. During the construction phase, the project will create about 400 jobs. Its implementation will support the state’s goal for 20% renewables generation in 2020, and then 50% by 2030.

“Queensland has an economic plan for post-COVID recovery and affordable, reliable energy supply underpins that plan,” Minister Lynham said.

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