Energy Estate appointed as financial advisers for 29.9MW Wangaratta Solar Farm in Victoria
14 April 2020
Energy Estate has been appointed by Sun Farms Australia to advise on the fund raising of the Wangaratta Solar Farm in Victoria.
The Wangaratta Solar Farm is a 29.9MWdc (22MWac) shovel-ready solar PV project in north central Victoria. All stages of development are now complete and the grid connection agreement executed with AusNet Services which provides for construction of a new sub-station within the AusNet 66kV distribution network.
Ben Barnett, Director of Sun Farms Australia, commented on the quality of the project, “The project is strategically very well located, has strong fundamentals and is far removed from the curtailment and queuing issues currently being experienced on the West Murray region of the grid in Victoria. The MLF/DLF is high and stable due to its proximity to the load centre of Wangaratta.”
“The Rural City of Wangaratta and AusNet have been a collaborative and supportive partner throughout the project.” The wider community and local stakeholder support has also been encouraging since the Project was initiated.
The total capital cost for the project is around $45M and the project will generate significant benefits for the local economy. Construction is expected to start in Q3 2020, creating up to 125 jobs during an estimated 8-9 month construction period.
Simon Currie, Principal of Energy Estate, said “Whilst we recognise this is a sensitive and challenging time, Energy Estate has been able to secure investment, offtake and grid connection contracts for 4 separate projects and portfolios for our clients over the past month. Due to the shovel-ready status of the grid, Wangaratta Solar Farm is de-risked and perfectly placed for a range of investors to acquire and deploy capital in 2020.”
Energy Estate is currently also advising Sun Farms on the sale of its 142MW Dysart Solar Farm in Queensland.
For additional information, please contact:
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About Energy Estate
Energy Estate is an advisory firm and business accelerator, focused on driving the transformation of the global energy sector. The team brings together experts across the industry, giving us an understanding of the energy sector that is collaborative, innovative and holistic.
Energy Estate is currently advising on over 5GW of renewable energy transactions in Australia including CWP’s 1.5GW+ NSW solar portfolio and EPS’s 1GW+ South Australian solar and storage portfolio.
For more information please visit: http://www.energyestate.com/