Australia’s large-scale solar industry now appears to be on solid ground, with all 12 plants recently awarded grant funding by the Australian Renewable Energy Agency reaching “financial close” this month.
That means they are fully financed and have locked in engineering, construction and grid connection agreements, as well as council and environmental approvals.
Construction has already begun at nine of the 12 Arena-funded plants, and the others three are a done deal, with the NSW White Rock solar farm the final project to reach financial close last week.
Arena’s chief executive, Ivor Frischknecht, said there were at least six more plants being developed in Australia without grant funding, suggesting the grant program had succeeded in establishing a self-sustaining industry.
Read Michael Slezak’s story in The Guardian - “Large-scale solar industry takes off as 12 new plants secure finance.”