Fotowatio Renewable Ventures’ (FRV) Moree Solar Farm in Northern NSW has successfully achieved first generation on Thursday, feeding 56 MW of renewable solar energy into the National Electricity Market.
FRV CEO Rafael Benjumea said the company was “very proud” to have delivered the largest polycrystalline solar farm in Australia on time and on budget.
“First generation at the plant is a great achievement and represents more than six years of continued work from our Australian office through the development, financing and construction activities,” Mr Benjumea said.
“FRV believes there is strong market support for large-scale solar in Australia and is looking forward to celebrating first generation from some of our other developed sites in the coming years.”
ARENA CEO Ivor Frischknecht said large-scale solar in Australia was well on its way towards “reaching commercial maturity”.
“In the last six months we’ve seen more than 210 MW from ARENA-supported solar farms start feeding into the grid and powering Australian homes and businesses with renewable energy,” Mr Frischknecht said.
“The Nyngan, Broken Hill and Moree solar farms, along with approximately 200 MW set to be built through ARENA’s $100 million large-scale solar round, will help push costs down by developing local supply chains, increasing financier confidence and advancing innovative renewable technologies.”
The Clean Energy Finance Corporation (CEFC) CEO Oliver Yates said the Moree Solar Farm was demonstrating how solar was set to play a critical role in transforming Australia’s energy future.
“The Moree Solar Farm also demonstrated how innovative merchant energy based financing can be used to finance large-scale renewable energy projects in Australia,” Mr Yates said.
“The CEFC is pleased to see that each project built is more efficient and cost effective than the last and that this trend is continuing in Australia and around the world. As prices continue to fall, Australia will be able to tap this sustainable competitive resource to power the economy.”
ARENA is providing $101.7 million funding support to Moree Solar Farm, whereas the CEFC has contributed with a debt finance commitment of $46 million.
Moree Solar Farm is scheduled for completion in April 2016.