Victorian solar park secures $133 million contract
Victoria’s planned Bannerton Solar Park is one step closer with the award of a $133 million engineering contract.
Sydney-based company UGL has won the lucrative contract to boost the growth of renewable power in Victoria.
The park is part of the State Government’s plan to power the tram network in Melbourne with clean energy and solar storage batteries.
The $133 million Bannerton project will be delivered over a three-year term. Stage one of the project is due to start in late 2017, aiming to generate power from July 2018.
UGL will be the engineering and construction arm of the 110MW solar project near Robinvale.
On 28 September 2017, the Foresight Group announced the acquisition of the Bannerton solar project.
Solar park boosts renewable energy in Victoria
UGL is a subsidiary of CIMIC, a major global engineering and construction group.
Newly acquired, UGL is firmly established in the clean energy market.
According to UGL Managing Director Jason Spears, UGL has strong expertise in the renewable energy sector, with nine current and past solar projects around Australia.
So far, UGL has delivered five solar projects with four others under construction. These are Emu Downs in WA, Kidston and Collinsville in Queensland, and White Rock in NSW.
Solar park contract with Victorian Government
According to Foresight Group, the project will benefit from a 10-year contract with the State Government.
It will receive regulatory support in the form of Large-Scale Generation Certificates (LGCs) under the Renewable Energy Target regulatory framework.
A 17-year fixed-price solar PPA will apply for a proportion of the electricity generated.
The Clean Energy Finance Corporation (CEFC) will also provide an Australian dollar denominated debt facility during the construction and operational phase.
CIMIC Group Chief Executive Officer Adolfo Valderas said: “CIMIC and UGL are pleased to be delivering this significant solar project and supporting the growth of the renewable energy market in Victoria.”
Renewable energy certificates (RECs) are available to householders when buying qualifying solar hot water, solar/wind power systems or solar panels.