SUN Energy to buy 132 MWdc/100 MWac Merredin solar project in Western Australia
SUN Energy has announced the agreement to acquire 100% of the assets of the 132 MWdc/100 MWac Merredin solar project from Risen Energy, located in Western Australia.
The Merredin solar project has a total of 354 452 panels spread over 460 ha of land and is expected to generate about 274 GWh of power annually, enough to power approximately 42 000 homes. The project is operational since August 2020 and is connected to the Western Power Merredin Terminal Substation at 220 kV.
The project has also obtained development approval to deploy up to 20 MW/40 MWh of a Battery Energy Storage System (BESS) onsite that will be jointly developed by SUN Energy and Risen Energy after the transaction is complete.
BHP has an offtake agreement for 50% of the power from Merredin which is directed to their Nickel West Kwinana refinery and Kalgoorlie Smelter. The project also has an agreement with Sunshot Energy for the offtake of Large-Scale Generation Certificates (LGCs) generated by the solar farm. Risen Energy will remain as the O&M contractor for Merredin after the acquisition.
SUN Energy was advised by Voltiq (financial) and DLA Piper (legal) on the transaction, while Risen Energy was advised by Holding Redlich (legal).
