MYTILINEOS establishes its position in the energy market of Australia, as its Renewables and Storage Development (RSD) Business Unit has acquired another solar project in Queensland.
Specifically, the Company acquired the 110 MW solar farm Moura from ESCO Pacific, one of Australia’s leading solar farm developers and operators. Furthermore, the project has already secured a PPA with CS Energy, a Queensland Government-owned energy company.
This acquisition brings MYTILINEOS’ Australian portfolio to 400MW, having recently announced the acquisition from ESCO Pacific of the 75MW Wyalong Solar Farm in New South Wales, and having acquired in 2019 a portfolio of six projects in New South Wales and Queensland, of which three (totalling120MW) are currently under construction.
Nikos Papapetrou, General Manager of the RSD Business Unit stated: “We are pleased to partner yet again with ESCO Pacific in Australia. The acquisition of Moura solar farm consolidates our position in the Australian market.”
Steven Rademaker, Managing Director of ESCO Pacific, said that: “Achieving this milestone on our Moura Solar Farm is a fantastic outcome for ESCO Pacific, bringing our developed project capacity to 681MWp of utility scale solar in Australia and cementing our position as one of the leading developers in the market. We are delighted to be working with our equity and construction partner on this project, MYTILINEOS, and we look forward to construction activities now commencing.”
CS Energy CEO Andrew Bills said: “CS Energy is excited to see the Moura Solar Farm reach this milestone as the project forms an important part of our growing portfolio of renewable energy offtakes. We look forward to our Queensland Government customers enjoying the benefit of this green generation once the project is completed.”
MYTILINEOS was advised by PwC and HSF on the acquisition.
Once constructed, the Moura Solar Farm will generate enough electricity to power approximately 40,000 Australian homes.