Canadian Solar has secured $65 million financing for two Queensland solar farm power projects with the Bank of Tokyo-Mitsubishi UFJ and Clean Energy Finance Corporation.
The 17MW Longreach project and 30MW Oakey project are both scheduled to commence construction this month and reach commercial operation in early 2018.
The solar power projects are expected to generate clean energy to power nearly 12,000 homes under a 20-year contract for differences awarded under the Queensland government’s Solar 150 program.
The projects have been awarded $3.5 million from the Australian Renewable Energy Agency.
“We are pleased to secure the financial backing from MUFG and CEFC, alongside the funding support from ARENA,” Canadian Solar chairman and chief executive officer Dr. Shawn Qu said.
“These projects will directly contribute to the Queensland government’s commitment to generating 50 per cent of its electricity needs from affordable clean energy by 2030. We look forward to making further investments in Australia as we execute on our development pipeline.”
RCR Tomlinson has been awarded two contracts, totalling about $50 million, to design and construct the Longreach Solar Farm and the first phase of the Oakey Solar Farm.
RCR’s scope of work includes engineering, procurement, construction and commissioning, with the advanced mono-crystalline photovoltaic solar panels to be supplied by Canadian Solar.
Once commissioned, RCR will provide operation and maintenance services for the Longreach and Oakey Solar Farms for an initial period of two years, with an option for a three-year extension.
A full list of renewable energy projects Australia-wide which are under construction, were completed in 2017 or will start this year is available on the Clean Energy Council website by clicking here.