Wangaratta Solar Farm Acquisition
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Press Release
21 December 2020 Further welcome news for the solar industry and for regional Victoria today with the Wangaratta Solar Farm achieving a major milestone with specialist distributed energy business CleanPeak Energy.
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CleanPeak Energy has signed an agreement to acquire the 30MW Project location just outside the northern Victorian town of Wangaratta in a major boost of renewable energy in regional Victoria.
Wangaratta Solar Farm Director Leigh Newbery noted the equity investment from CleanPeak Energy is a vote of confidence in Victorian renewables sector and a welcome milestone for the Project after the most trying year for Victorians.
“With this milestone, the Project can now proceed with confidence through the design and construct phases and deliver a material boost in investment and jobs in the Wangaratta region. The Project has been a long time in development and this milestone confirms that solar projects in good locations with strong fundamentals will continue to play a role in the vital energy transition” he said.
Sun Farms Australia Director Ben Barnett, who advised on the final development and the transaction, thanked and praised the efforts of both the Rural City of Wangaratta and AusNet Services in supporting the Project through its challenging journey. “The commitment, effort and patience of these parties has been instrumental in achieving this milestone and realising this investment in the renewables sector and importantly in regional Victoria”. Energy Estate Principal and Transaction advisor to the Project Mr Vincent Dwyer added “The energy markets are going through rapid change at the moment, with the increasing penetration of utility-scale wind and solar, and rooftop solar, into the system. This transaction comes at an important time in that transition, underpinning the increased engagement by institutional investors in utility scale solar.”
As its first investment in utility scale solar, CleanPeak CEO, Philip Graham said; “the acquisition allows us to rapidly grow our solar portfolio to complement our existing commercial assets. The WSF Project provides a low cost, low risk, large scale solar connection in the Victorian distribution network and has the potential for future storage. When completed, the Project will substantially boost our integrated portfolio of solar assets to near 100MW”.
Detailed design for the Wangaratta Solar farm Project is well underway with construction due to commence by mid 2021. Generation from the project is anticipated by the end of 2021.
Contact Details
Wangaratta Solar Farm | Leigh Newbery | leighn@switchco.com.au
CleanPeak Energy | Philip Graham | info@cleanpeakenergy.com.au
Sun Farms Australia | Ben Barnett | admin@sunfarmsaustralia.com.au
Energy Estate | Vincent Dwyer | vincent.dwyer@energyestate.com
Wangaratta Solar Farm Director Leigh Newbery noted the equity investment from CleanPeak Energy is a vote of confidence in Victorian renewables sector and a welcome milestone for the Project after the most trying year for Victorians.
“With this milestone, the Project can now proceed with confidence through the design and construct phases and deliver a material boost in investment and jobs in the Wangaratta region. The Project has been a long time in development and this milestone confirms that solar projects in good locations with strong fundamentals will continue to play a role in the vital energy transition” he said.
Sun Farms Australia Director Ben Barnett, who advised on the final development and the transaction, thanked and praised the efforts of both the Rural City of Wangaratta and AusNet Services in supporting the Project through its challenging journey. “The commitment, effort and patience of these parties has been instrumental in achieving this milestone and realising this investment in the renewables sector and importantly in regional Victoria”. Energy Estate Principal and Transaction advisor to the Project Mr Vincent Dwyer added “The energy markets are going through rapid change at the moment, with the increasing penetration of utility-scale wind and solar, and rooftop solar, into the system. This transaction comes at an important time in that transition, underpinning the increased engagement by institutional investors in utility scale solar.”
As its first investment in utility scale solar, CleanPeak CEO, Philip Graham said; “the acquisition allows us to rapidly grow our solar portfolio to complement our existing commercial assets. The WSF Project provides a low cost, low risk, large scale solar connection in the Victorian distribution network and has the potential for future storage. When completed, the Project will substantially boost our integrated portfolio of solar assets to near 100MW”.
Detailed design for the Wangaratta Solar farm Project is well underway with construction due to commence by mid 2021. Generation from the project is anticipated by the end of 2021.
Contact Details
Wangaratta Solar Farm | Leigh Newbery | leighn@switchco.com.au
CleanPeak Energy | Philip Graham | info@cleanpeakenergy.com.au
Sun Farms Australia | Ben Barnett | admin@sunfarmsaustralia.com.au
Energy Estate | Vincent Dwyer | vincent.dwyer@energyestate.com
