Lightsource BP Australia secures AUD 330 million and begins construction on two projects
Post date: 03/06/2021 - 10:54
Lightsource BP' Australian branch has closed on a AUD 330 million (USD 255 million) financing package and begun construction on its »West Wyalong« (107 MW) and »Woolooga« (210 MW) solar projects located in New South Wales and Queensland. Financing for the projects was secured from EDC, ING, Intesa Sanpaolo and Westpac. The projects on a subsidy-free basis are estimated to produce cumulative approximately 673 GWh annually. Together with the 200 MW »Wellington« solar hub in NSW, the West Wyalong and Woolooga projects contribute to Lightsource BP’s pipeline of more than 1.5 GW.
Construction by Canadian PCL on both projects has commenced under an early works agreement with full notice to proceed now issued and commercial operations are expected mid-2022. PCL is a group of independent general contracting construction companies in Canada, the United States, Australia and the Caribbean.
Queensland targets to have 50 percent of energy generation from renewable sources by 2030 and New South Wales aims to construct 12 GW of clean energy over the next ten years.