Ingenious Infrastructure, a U.K.-based investor in renewable energy projects, is to create a joint venture (JV) with Australian solar company Stellata Energy that will invest more than AU $200 million (US $151 million) in solar projects in Australia.
The newly created JV will get the PV ball rolling with the development of a 120 MW solar park in Western Australia near the town of Merredin. This project has been under the ownership of Stellata Energy for some time, and Ingenious’ involvement will bring a welcome injection of cash.
Stellata Energy has already deployed more than 600 MW of ground-mounted and rooftop solar in Europe, while Ingenious’ $600 million renewable investment portfolio – spend largely in the U.K. and Ireland – is a testament to the firm’s commitment to clean energy.
Based in Western Australia, Stellata Energy has welcomed the JV’s creation, stating that it will deliver plenty of jobs in local communities, while Ingenious Infrastructure’s MD Sebastian Speight said that Australia’s solar potential is bursting with untapped rewards.
Australia’s Renewable Energy Target (RET) program is aiming for the deployment of 33,000 GWh of renewable energy by 2020, with solar poised to play the leading role in this growth. Large-scale solar deployment in Western Australia, however, has been stunted ever since the state’s first such plant in 2012. Today, though, the state is nurturing a modest PV pipeline that will no doubt be augmented by the efforts of this new JV.
*This article was amended on June 14 to reflect the fact that the UK firm involved is called Ingenious Infrastructure, and not Ingenious Group, as previously reported. pv magazine apologizes for any misunderstanding.