Chinese-Australian JV to develop 2 GW of solar in Australia by 2025
Maoneng, the Australian renewable energy developer, and CHINT New Energy, the solar panel manufacturer and EPC contractor have formed a joint venture to bring at least 2 GW of solar power to Australia by 2025.
Following the initial joint partnership announcement, the companies have finalized the terms of a joint venture. In their efforts to accelerate Australia’s transition to renewable energy, AUD 200 million (USD 132 million) has been mandated for an initial project which aims to bring more solar farms online in Australia. Details on the project are not available yet.
Maoneng will take a 40% equity stake in the joint venture and CHINT New Energy will take a 60% stake.
All off the projects will be connected to the National Electricity Market (NEM).
CHINT is a publicly listed tier-1 solar panel manufacturer and EPC Contractor and has developed a business network in over 140 countries and regions.
Maoneng is an Australian founded and operated company pioneering Australia’s transition to 100% renewable energy through cutting-edge solar, battery and other utility-scale energy projects across the country. Australian-founded and operated in 2010, Maoneng partners with Australia’s largest utilities and organisations to build and operate these projects.
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