The SolarReserve, a firm based in the US, has abandoned the AUD 650 million 150 MW Aurora concentrated solar thermal plant, Port Augusta, Autralia, billed as the world’s biggest, after having problems in securing finance for the project.
The company had until May 31, 2019 to get financial assistance for the project, after the extension on February 1, 2018. Not being able to secure financing, the company proposed to sell the project to a third party. The South Australian government now prepares to put out a new tender for a long-term electricity supply contract, covering 100% of the region’s power needs, under a 20-year generation project agreement signed in 2017. The SolarReserve bided lowest at the time of AUD78/MWh as the former Labor state government approved AUD110 million in the form of a concessional equity loan to back the project.
The project was supposed to create 650 full-time jobs and more than 4,000 direct and indirect jobs in the region.
Country updates
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April 26, 2019
AGL secures approval to develop 250 MW pumped hydro energy storage project in Australia
AGL has announced that it had secured the right to develop, own and operate a 250 megawatt pumped hydro energy storage project at Hillgrove Resources Limited’s Kanmantoo copper mine in South Aus...
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April 25, 2019
Spark Infrastructure Group completes purchase of Bomen Solar Farm from Renew Estate
Spark Infrastructure Group has completed the purchase of a 100 MW/120 MWdc Bomen solar photovoltaic farm located in Wagga Wagga in New South Wales from Renew Estate, Australia. The so...
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April 17, 2019
Wind Prospect to develop a 700 MW wind project in Victoria
Wind Prospect is exploring the possibility of developing a wind farm with up to 125 turbines and a total capacity of about 700 MW near Hexham. Located within the Moyne Shire b...
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April 09, 2019
OSMI Australia to build 300 MW wind farm in Victoria
OSMI Australia is set to build its 300 MW wind project in the region of Latrobe Valley in Victoria. With an investment of about AUD500 million (US$357.36 million), the facility will be equipped...
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April 08, 2019
30 MW storage project in Australia begins operation
ElectraNet has announced the completion of 30 MW 8 MWh large-scale battery built at Dalrymple, on South Australia’s Yorke Peninsula. The project can provide back-up power to 4,500 custome...
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