MYTILINEOS through its Renewables and Storage Development (RSD) Business Unit has acquired a 75 MW solar project in Australia from ESCO Pacific.
The Solar Farm is Wyalong (75 MW) which is located in New South Wales and has secured a high quality long-term PPA.
This acquisition brings MYTILINEOS’ Australian portfolio to 290MW, 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 with a professional developer like ESCO Pacific in Australia. The acquisition of Wyalong consolidates our position in the Australian market.”
Steven Rademaker, Managing Director of ESCO Pacific, said that: “Achieving this milestone on our Wyalong 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.”
MYTILINEOS was advised by PwC and HSF on the acquisition.
Once constructed, the Wyalong Solar Farm will generate enough electricity to power approximately 30,000 Australian homes.