The 87-megawatts Beryl Solar Farm situated in North of Mudgee in New South Wales becomes the newest addition to the growing large-scale renewable energy projects that join the grid after supplying its first power into the network.
New Energy Solar owns the solar farm. It presently holds a 15-year contract to provide electricity to the North West Sydney Metro Train Lines, a facility owned by the New South Wales government. The output is expected to cover approximately 69 percent, with the rest being solar on market or to another off-taker, Renew Economy reported online.
Downer Group initially bought the solar farm from First Solar in 2018. The company then built it by using Longi solar panels, Ingeteam inverters, and Exosun tracking technology. In estimation, it will have a capacity factor (AC) of 28.6 percent.
The first output for the solar farm happened last week. The Beryl Solar Farm is expected to be completed next month, a year after its construction began.
The article further reported, “New Energy Solar has suggested that the addition on battery storage also remains an option, presumably to time shift the output of the solar farm and sell in evening peaks rather than the anticipated price troughs in the middle of the day and/or to provide market services.”
Last year, Renew Economy reported that the output of the Beryl Solar Project in west of Gulgong will be utilised to supply power to the New South Wales government’s north-west rail lines in Sydney and may also add battery storage as an additional source of revenue, but concrete details were not yet released that time.
To date, New Energy Solar owns two solar farms in the country including the 56 megawatts Manildra Project, also located in New South Wales. The project accounts for an estimated 20 percent of its entire portfolio. On April 12, it also accomplished a $US 200 million raising for a new, London-listed solar fund which will concentrate on large-scale solar investments in the United States.
In a statement regarding the establishment of the US Solar Fund or USF, the CEO of New Energy Solar, John Martin, said, “The addition of the USF mandate will assist NEW to maintain its market presence and provide it with access to a larger, more consistent, high quality investment pipeline. This is particularly relevant as average deal sizes are increasing. The capacity to co-invest will also allow NEW to maintain portfolio diversity, alongside an investor with a similar investment strategy.
Read the full report here.
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