Twelve of Australia’s large-scale solar plants have been awarded grant funding by the Australian Renewable Energy Agency.
Funding will be received by financial close this month, according to a report by The Guardian, and means agreements for engineering, construction, and grid connection are confirmed.
Works have already begun at nine of the 12 Arena-funded plants with the NSW White Rock solar farm the final project to reach financial close, the report explained.
When completed, the 12 power plants will provide enough electricity to power 150,000 homes, the report explained. accounting for 10 per cent of the required capacity to to meet Australia’s renewable energy target in 2020.
“This competitive round is the perfect demonstration of how Arena is accelerating Australia’s shift to a low emission, renewable energy future,” said Arena CEO Ivor Frischknecht.
“From zero to more than 20 plants in five years, Australia’s large-scale solar industry has grown at a tremendous pace thanks to concerted efforts by Arena and the CEFC [Clean Energy Finance Corporation].”
The 12 plants received a total of $92 million in grants, which sparked more than $1 billion in private investment last year.
“The support for these projects has fast-tracked large-scale solar in Australia and is part of the Turnbull government’s technology neutral approach to affordable and reliable energy as we transition to a lower emissions future,” said environment and energy minister Josh Frydenberg.