AGL Energy Limited has said it has reached financial close on two large scale solar photovoltaic (PV) projects in New South Wales.
The projects, chosen as part of the federal government’s Solar Flagships program, will see a 102 megawatt (MW) development in Nyngan and a 53 MW plant built in Broken Hill.
The cost of the project is around $450 million, with AGL’s financial close reached with the assistance of the Australian Renewable Energy Agency (ARENA) and the NSW government, which chipped in $166.7 million and $64.9 million, respectively.
The Australian subsidiary of US-based First Solar will provide engineering, procurement and construction services for both projects, using its thin-film PV modules.
Construction of the Nyngan project is expected to commence in at the beginning of 2014, while construction of the Broken Hill project will start around the middle of 2014. The build time of both is expected to be about 18 months.
For newsletters' consensus on AGL Energy, see Cliona O'Dowd's Collected Wisdom.