The parties involved with the ACT’s Royalla Solar Farm have secured financial backing via ANZ and National Australia Bank.
The FRV Royalla Solar Farm will be constructed 23 kilometres south of Canberra’s centre. Approximately 83,000 solar panels at the facility will generate enough electricity to supply the power needs of around 4,500 homes.
Clean Energy Council Chief Executive David Green has congratulated the companies involved with securing the backing.
“The financial backing is obviously welcome news for both FRV (Fotowatio Renewable Ventures) and Acciona who are working together to deliver the project,” he said. “The ACT Government’s Solar Auction has been a game-changer in supporting this new form of renewable energy at the lowest cost to consumers.”
Construction of the plant is due to be completed in 2014.
Last month, two new solar projects for the ACT were announced – the 13-megawatt Mugga Lane Solar Park and the 7-megawatt OneSun Capital Solar Farm. Combined with the 20 MW Royalla Solar Farm, the three facilities will generate enough power to supply 10,000 homes.
“We know that large-scale solar power has worked effectively in other countries, but it is still a very new form of energy in Australia,” said Mr. Green.
“The first major Australian solar farms will need to overcome a range of challenges in the planning process, ultimately reducing costs and paving the way for those to follow.”
Residential and commercial solar continues to be popular in the nation’s capital too; with Canberra home to over 13,000 rooftop installations.
According to solar provider Energy Matters, a 4.16kW system installed in Canberra can deliver estimated financial benefits of $959 – $1,423 annually.
It may be a while for Australia’s large scale solar sector to catch up with the nation’s small scale revolution. Nationally, more than 1 million households have installed rooftop solar power systems.