Development of a 100MW solar facility in New South Wales, Australia has been given the green light by the state. The plant, which is a joint venture between Infigen Energy and Suntech Australia, is to be based in the town of Nyngan and is likely to cost around $297.5 million.
A considerable amount of the funding for what will be New South Wales’ first commercial solar project will come from the Australian federal government’s Solar Flagships Program. The programme’s $1.5 billion budget will help finance one third of the 200 hectare development, with Infigen planning to fund the remainder from a combination of cash reserves and a counterparty power purchase agreement.
"The flow-on effect through the businesses of wages is also very positive for us,” said Nyngan’s mayor, Ray Donald. "I think the other thing about it though, is that it's a step towards major solar power, which must be a good thing for state-wide electricity at a time when there's threatening to be increases in prices. And I hope this can make a positive step towards controlling some of those increases."
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