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Foresight scores Oz PV hat-trick

Three solar plants in Queensland total 117MW will all come online in 2018

Foresight scores Oz PV hat-trick image

Foresight Solar Fund has completed the acquisition of interests in three solar farms in the Australian state of Queensland totalling 117MW from Canadian Solar.

The fund has bought 49% shares in the 17MW Longreach and 30MW Oakey 1 plants and all of the 70MW Oakey 2 facility.

Longreach and Oakey 1 are expected to come online in March and September, respectively, while Oakey 2 is expected to connect to the grid in October.

The Clean Energy Finance Corp (CEFC) and The Bank of Tokyo-Mitsubishi UFJ have provided debt finance totalling A$65m (€42m) for Longreach and Oakey 1, while CEFC has also provided A$55m in debt for Oakey 2.

Longreach and Oakey 1 have 20-year off take agreements with the Queensland government.

Foresight partner Ricardo Piñeiro said: “We are delighted to have completed the acquisition of these projects.

“These Australian assets ensure greater diversity across the portfolio and will be making a strong contribution for our investors once operational.”

The fund now has a total of 23 assets with a combined capacity of 621MW. 

Image: Pixabay

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