08 May 110MW Queensland solar farm changes hands
Australian energy firm Origin Energy (ASX:ORG) has completed the sale of its 110MW Darling Downs Solar Farm project in Queensland to APA Group (ASX:APA).
APA will assume development costs of the plant which along with the acquisition fee, which will total an estimated AUS$200 million.
However, a $20 million grant by the Australian Renewable Energy Agency’s (ARENA) Advancing Renewables Program will be passed on to APA.
The Darling Downs Solar Farm is currently one of the largest approved solar facilities in Australia, and is expected to be completed by 2018.
The facility will produce enough renewable energy to power around 32,000 homes, connecting to the National Electricity Grid via the Darling Downs Braemar substation.
APA Group managing director, Mick McCormack said: “I am always pleased to announce new growth projects. APA continues to grow its capabilities in owning and operating significant energy infrastructure as part of its growth strategy.
“This will be APA’s second solar project and like the Emu Downs Solar Farm in Western Australia that we recently announced, the Darling Downs Solar Farm will utilise ARENA funding.”