Keppel Renewable Energy, the renewables arm of Keppel Corp., has agreed to buy a 45% stake in Harlin Solar, a special purpose entity that was established in August to develop a 500 MW solar farm at Harlin, about 100 kilometers northwest of Brisbane, Australia.
Keppel Renewable Energy, the renewables arm of Keppel Corp, has agreed to buy a 45% stake in Harlin Solar, a special purpose entity established in August 2020 to develop a 500 MW solar farm at Harlin, about 100 kilometres northwest of Brisbane. Keppel will pay a nominal sum of AUD 540 (US$410) for the share and also provide Harlin Solar with a lending facility of up to AUSD 3.24 million (US$2.45m) to fund development costs.
The Harlin solar farm, to be built on a 2,055-hectare site between Harlin and Kilcoy, is set to become the largest solar farm in Australia, with a capacity of at least 500 MW. The developers said the project – which is expected to feature bifacial modules mounted on single axis trackers and will connect to the 275 kV high voltage national distribution network in Queensland – will generate enough energy to power more than 142,000 average Australian homes.
The purchase is Keppel’s first solar farm project. However, the company will be responsible for grid-connection studies and technological assessments, as well as engineering, procurement and construction (EPC) duties.
Chris Ong, managing director of Keppel Renewable Energy, said the Harlin solar farm is part of Keppel’s Vision 2030, which includes plans to expand the group’s portfolio of renewable assets to 7 GW by 2030.
“This project reflects Keppel’s continuing journey to support the world’s energy needs through renewables,” Ong said. “Keppel Renewable Energy will collaborate with other business units and harness the technical and commercial capabilities across the group to develop, own and operate renewable energy infrastructure in a cost-efficient, safe and reliable manner.”
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This article was updated on 31/12/2020 to reflect that Keppel Corporation is investing $3 million in the project.
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