Greek developer secures finance of three more Australian solar projects

·

Mytilineos Holdings, a Greek industrial conglomerate company, has recently financially closed on three solar farms in Australia.

The Greek industrial and energy giant is investing in its second portfolio of projects in Australia with two solar farms in QLD and one in NSW.

“Australia is a key market for Mytilineos’ global renewables development strategy,” said Nikos Papapetrou, the company’s general manager of renewables and storage development.

“We are pleased with the trust given to the company and to our vision in the region and we look forward to many more successful financings for our future projects,” Papapetrou said.

According to Renew Economy, The Moura and Kingaroy solar farms in Queensland and Wyalong in NSW – 110MW, 53MW and 75MW respectively – are at varying phases of development.

The Moura farm, is complete and is undergoing hold-point testing, the Kingaroy farm is in its early stages of construction and Wyalong is partially built.

The Moura farm, in QLD’s Banana Shire.

The finance for the solar farm projects accrued to $234 million and was provided by Australian banks, ANZ and Westpac.

Mark Clover, ANZ executive director of corporate finance, said Mytilineos’ expansion in Australia is a positive sign for the local renewables market. He says, Mytilineos aligns with ANZ’s goal of spending $100 billion in sustainable solutions by 2030.

All solar farms are secured with power purchase agreements (PPA).

The Wyalong project has 10 year PPA with NBN Co to sell roughly half of its output. While the Moura farm has a PPA with state-owned utility CS Energy, and Kingaroy farm holds a PPA with Smartest Energy.

Source: Renew Economy

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Greece condemns Turkey-Libya offshore agreement as ‘illegal’

Libya’s National Oil Company has signed a memorandum of understanding with Turkey’s state energy firm TPAO to explore four offshore zones.

Georgian woman arrested after cigarette allegedly sparks Chios wildfire

A woman has been arrested for allegedly causing one of the wildfires that recently ravaged the Greek island of Chios.

Honour a loved one of Hellenic heritage on the National Monument to Migration

The name of a loved one with Hellenic heritage can be engraved on Australia's Notional Monument to Migration if you register before June 30.

Shadow Minister slams government inaction as Google cuts ethnic media funding deal early

Google's early exit from a key funding deal puts independent Australian media at risk, drawing backlash from federal Opposition.

Youthful St George Saints devastated by double header defeat

The St George Saints Mens White team faced a tough double header last weekend against two powerhouse opponents.

You May Also Like

EU greenlights €800 million Greek scheme to support non-household electricity consumers

The European Commission has approved an €800 million Greek scheme to support non-household electricity consumers.

Australian Hellenic Council urges protection of historic Mount Sinai Monastery

Australian Hellenic Council has expressed concern to the Egyptian Ambassador in Canberra over the Saint Catherine’s Monastery on Mount Sinai.

Stefanos Tsitsipas victory brings Greek closer to third straight Marseille title

Stefanos Tsitsipas took one step closer to securing a three-peat in Marseille after defeating Lucas Pouille 6-2, 6-3 to reach the quarter-finals of the Open 13 Provence.