Multi-million dollar solar farm construction to begin
CONSTRUCTION is set to start on a multi-million dollar solar farm near Childers, with the project expected to be up and running within nine months.
Australian developer of utility scale solar projects, Esco Pacific, has also announced the construction phase of its Susan River site near Maryborough is about to get underway.
The 75-megawatt Childers Solar Farm, south-east of the Isis River near the Bruce Hwy, will create enough energy to power 30,000 homes from the 400,000 solar panels spread across the180ha property.
Financially backed by hedge funds managers Elliott Management Corporation, affiliates of Elliott will own 100 per cent of the projects, and are prepared to fund the projects through to connection entirely with equity.
Construction, operations and maintenance will be undertaken by Biosar Energy (through its Australian arm), which has completed over 1.3-gigawatt of installed capacity in 13 countries.
The Childers project will create between 100 and 125 jobs during construction and five to 10 over the 40-year life of the project
ESCO Pacific has been appointed as the asset manager for both projects under a long-term arrangement.
ESCO Pacific managing director and founder Steve Rademaker said achieving financial close on the Susan River Solar Farm and Childers Solar Farm demonstrated ESCO Pacific's ability to take the lead in delivering significant projects to market.
"It is clear that Australian merchant solar remains an attractive opportunity for experienced investors," he said.
"ESCO looks forward to continue bringing jobs and growth to regional Australia through its extensive pipeline of highly advanced projects currently under development."
Mr Rademaker said fencing to secure site, workers cabins and access ways would be among the first stage of the "boots on the ground" work to be undertaken.