CEFC finances solar farm at Colleambally in NSW
The Clean Energy Finance Corporation has committed $30 million in debt finance to the 150MW (AC) Coleambally Solar Farm being developed by Neoen Australia. The solar farm will be the largest in NSW.
The Coleambally Solar Farm is five kilometres north east of Coleambally, and 70 kilometres south of Griffith. It will consist of about 565,000 solar panels on 550 hectares and is expected to generate enough electricity to power more than 50,000 homes, while abating about 300,000 tonnes of carbon emissions annually. The project has contracted 70 per cent of its output to EnergyAustralia.
The Coleambally site was chosen after a feasibility assessment confirmed there was an abundant solar resource at the location, which also has an existing electricity substation with grid connection capacity. Up to 300 workers are likely to be employed during the construction phase, which is expected to take around nine months.
During the past 12 months, the CEFC has worked with developer Neoen Australia to accelerate large-scale solar capacity in regional NSW, providing debt finance for four projects that will deliver an additional 260MW (AC) of renewable energy capacity.
The CEFC has provided $150 million in debt finance to Neoen solar farm developments in Dubbo, Griffith and Parkes. The Griffith and Parkes solar farm projects are now fully built and are undergoing commissioning, exporting increasing amount of renewable electricity into the national electricity grid as commissioning progresses. Full-scale commercial operation is expected before the end of February.