Elecnor sells its Barcaldine solar PV farm in Australia

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Having completed the promotion, development, construction and start-up phases of the facility at the end of 2016, Elecnor has completed the sale of the 25 MW solar PV farm located in Barcaldine in the state of Queensland. The sale price is AUD 33.4 million (EUR 23.4 million at the current exchange rate).

The buyer is an Australian investment company managed by the British firm Foresight, a leading infrastructure investment and asset manager with some 70 solar PV plants in its portfolio in the UK, southern Europe, Australia and North America. Financing was provided by KDB Infrastructure Investments Asset Management Co. Ltd and Hanwha Energy.

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The Barcaldine solar plant, which was built within the planned timeframe, is located on a 90 hectare site. The plant’s 79,000 photovoltaic panels generate an estimated annual production of 56,000 MWh, sufficient to meet the consumption requirements of around 5,300 households.

Projects in Australia

This project was Elecnor’s second in Australia. It has previously acted as an EPC company on a 70 MW plant in the state of New South Wales for the Moree Solar Farm Pty Ltd company, part of Fotowatio Renewables Venture (FRV).

It is currently working on the initial development stages of new projects in the sphere of renewable energy, including a new 45 MW solar PV farm in the vicinity of the Barcaldine complex and the promotion of two wind projects in the state of Queensland. It also completed the promotion of the 252 MW Bulgana wind farm in the state of Victoria. This farm was subsequently sold to the Neoen Wind Holdco company, with which Elecnor will partner on development and provide technical assistance.

Source: Elecnor