Edify Energy reaches financial close for 333MW New South Wales solar farm

It raised the funds with UK-based Octopus Investments.

UK-based Octopus Investments and Australia’s Edify Energy have arranged $323.82m (A$450m) for the development of what could be Australia’s largest solar power station at Darlington Point in New South Wales, Australia.

According to an announcement, the 333MW DC Darlington Point Solar Farm could generate 685,000 MWh of renewable energy each year – enough to power around 115,000 homes. Generation is expected to start in early 2020.

It has a long-term power purchase agreement (PPA) with Delta Electricity for approximately 55% of output.

Edify will work with Octopus through construction and will undertake the long-term asset management service for the solar farm through operations.

Edify Energy chief executive John Cole said, “Edify continues to look for opportunities to expand the capacity of renewable energy in Australia’s energy market and this project is a great step forward for the provision of clean green electricity for Australian energy consumers.”

On 7 December 2018, the NSW Department of Planning and Environment granted the Development Consent for the solar farm in accordance with the State Significant Development process.