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Singapore investor injects $411m into 500 MW of Australian solar

Singaporean infrastructure specialist Keppel Corp. has agreed to invest more than AUD 540 million (US$410.9 million) in a large-scale solar farm in Harlin, Australia.

From pv magazine Australia

Keppel Renewable Energy, the renewables arm of Keppel Corp., has agreed to buy a 45% stake in Harlin Solar, a special purpose entity that was established in August to develop a 500 MW solar farm at Harlin, about 100 kilometers northwest of Brisbane, Australia.

Keppel will also provide Harlin Solar with a lending facility to fund development costs. Developer Anthony John Youssef and Melbourne-based New Energy Development hold the remaining 55% of Harlin Solar’s issued ordinary shares. However, Keppel will now lead the development and operation of the project.

The Harlin solar farm, to be built on a 2,055-hectare site between Harlin and Kilcoy, is set to become the largest solar farm in Australia, with a capacity of at least 500 MW. The developers said the project – which is expected to feature bifacial modules mounted on single axis trackers and will connect to the 275 kV high voltage national distribution network in Queensland – will generate enough energy to power more than 142,000 average Australian homes.

The purchase is Keppel’s first solar farm project. However, the company will be responsible for grid-connection studies and technological assessments, as well as engineering, procurement and construction (EPC) duties.

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Chris Ong, managing director of Keppel Renewable Energy, said the Harlin solar farm is part of Keppel’s Vision 2030, which includes plans to expand the group’s portfolio of renewable assets to 7 GW by 2030.

“This project reflects Keppel’s continuing journey to support the world’s energy needs through renewables,” Ong said. “Keppel Renewable Energy will collaborate with other business units and harness the technical and commercial capabilities across the group to develop, own and operate renewable energy infrastructure in a cost-efficient, safe and reliable manner.”

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Source: pv magazine