Shell to invest in Australian solar plant developer Esco Pacific
Post date: 17/12/2019 - 11:32
Australian utility scale solar project developer Esco Pacific Pty Ltd. and Dutch oil and gas company Shell have formed a strategic partnership. According to the company, Shell’s investment »will enable Esco Pacific to further accelerate development of its project pipeline as well as opening up significant opportunities with a wider range of corporate off-takers looking to procure renewable power.« The project developer will continue to operate under its existing management and brand. The business will be expanding its project pipeline both organically and by acquisition, while continuing to deliver projects to market in the coming years. In addition Esco Pacific will be growing its asset management portfolio. The amount of the investment was not disclosed.
Esco Pacific has delivered to market nearly 500 MW of projects since 2017, including the 148 MW »Ross River Solar Farm« in Queensland operational since 2018, with a further 350 MW of solar assets under long term management.