Origin sells Darling Downs Solar Farm to APA Group
ORIGIN Energy Ltd has sold the Darling Downs Solar Farm project near Dalby to pipelines owner APA Group.
Origin is expecting to sign another large-scale solar power purchase agreement on completion of the sale, as it continues to accelerate the uptake of renewable power in Australia.
The power purchase agreement will underpin the development of Darling Downs Solar Farm.
Darling Downs Solar Farm is a utility-scale photovoltaic solar project located about 45 kilometres from Dalby.
The project will cost APA Group $200 million to build.
Under the terms of the agreement with APA, Origin will buy all of the renewable power generated by the 110 MW Darling Downs Solar Farm, from commencement of operations in 2018 to 2030.
Darling Downs will be APA Group's second solar farm project, joining the Emu Downs facility in Western Australia.
Origin identified and developed Darling Downs Solar Farm project, including securing $20 million funding support from the Australian Renewable Energy Agency.
This funding will be provided to APA as the new project owner.
Origin CEO Frank Calabria said: "Origin is delighted to be securing another long-term agreement to purchase renewable power, while simultaneously announcing the sale of Darling Downs Solar Farm to APA.
"This transaction is further evidence of Origin delivering on our commitment to rapidly increase the uptake of renewable energy in Australia, and deliver cleaner energy to homes and businesses."
Under the terms of the sale, Origin will recoup from APA costs associated with the development of Darling Downs Solar Farm to date.
The sale of Darling Downs Solar Farm is expected to complete in May 2017.