First Solar has reached financial close for the Manildra Solar Farm in New South Wales.
First Solar will deliver the 48.5 megawatt project which aims to produce more than 120,000 megawatt-hours of electricity in the first year of operation.
EnergyAustralia Managing Director Catherine Tanna said customers rightly expect access to reliable, affordable and cleaner supplies of energy.
“The Manildra Solar Farm is a great example of the projects that will underpin the future of energy in Australia and we’re proud to be partnering with First Solar to bring it to market,” Ms Tanna said.
First Solar has entered a 13-year power purchase agreement with EnergyAustralia for the electricity and large-scale generation certificates from the project.
The Manildra Solar Farm is also supported by a $9.8 million grant from the Australian Renewable Energy Agency (ARENA).
The Manildra Solar Farm is expected to boost the regional economy through the creation of direct and indirect jobs and support for local businesses.
Once complete, the project will have the capacity to power around 14,000 average homes and displace more than 91,000 metric tons of carbon dioxide emissions per year – the equivalent of taking about 24,000 cars off the road.