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15.02.2018 16:47
Innogy Enters Australian Solar Market with 460 MW Projects
AUTHOR: publics.bg


  • © Chris Baird, flickr.com

German energy firm Innogy bought project rights for two solar power plants in Australia worth more than 460 megawatts, continuing its renewables expansion outside its core market Europe, Reuters reported.
 
The projects, in New South Wales, were bought from Overland Sun Farming, Innogy said, adding that construction was expected to start in 2018. They will require total investment of more than 400 million euros.
 
“This is a perfect fit with our strategy to deliver sustainable bottom line growth in accordance with Innogy’s financial targets to maximise value for the company and our shareholders,” Chief Executive Uwe Tigges said.
 
The acquisition follows Innogy’s deal in December to buy onshore wind power projects with more than 2 gigawatts of capacity in the United States, its first move into the world’s second biggest wind market.
 
Innogy said it would review all options regarding the Australian project’s ownership and financing structure.
 
The two solar plants are expected to begin commercial operation by the end of next year, Innogy said, adding it was also looking at investment opportunities in the field of battery storage and onshore wind in Australia.

TAGS: Innogy | entry | market | Australia | projects | solar plants | New South Wales | wind energy | wind projects 


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