Solar park. Author: Chris Baird. License: Creative Commons, Attribution 2.0 Generic.
UGL Pty Ltd, part of the CIMIC Group Ltd (ASX:CIM), will design and build two solar farms in Australia for Ratch Australia and Goldwind, CIMIC said on Wednesday.
UGL has been awarded engineering, procurement and construction (EPC) contracts, worth a combined AUD 117 million (USD 86m/EUR 79.3m), for the 42.5-MW Collinsville solar power project in Queensland and the 20-MW White Rock project in New South Wales.
The Collinsville contract comes from Ratch Australia Corp Ltd and will provide UGL with revenue of AUD 83 million over 13 months.
The order for the White Rock solar farm, which will be co-located with a wind farm, is from Chinese wind turbine maker Xinjiang Goldwind Science & Technology (HKG:2208). CIMIC said this contract will generate revenue of AUD 34.2 million for UGL over nine months.
UGL will also provide operation and maintenance (O&M) services at both solar farms for certain periods of time.
The news came as Goldwind said Wednesday the White Rock solar farm has achieved financial close. The project investment of AUD 41.4 million will be funded with AUD 5.4 million in support from the Australian Renewable Energy Agency (ARENA), AUD 25 million debt from the Sydney branch of the Agricultural Bank of China Ltd and AUD 11 million equity from Goldwind. Construction is slated to start in July and is expected to be completed in January next year.