3 January 2018
The Clean Energy Finance Corporation (CEFC) is continuing to foster utility scale PV growth in Queensland, providing $55 million in non-recourse project finance to the Oakey 2 Solar Farm. Canadian Solar will supply modules for the project and will also serve as EPC.
The CEFC is continuing to provide project finance to PV power plant projects in Australia at the pre-offtake agreement stage. The latest deal will see construction on the 70 MW Oakey 2 project get underway.
Oakey 2 is being developed by Canadian Solar and has been sold, as a part of a 117 MW utility scale solar portfolio, to the UK’s Foresight Solar Fund Limited. Canadian Solar reports that the project will be completed in November 2018 – one month later than previously announced.
In October 2017, Foresight announced the purchase of Oakey 2, alongside taking a 49% stake in Oakey 1 and the Longreach Solar Farm – the latter two projects having already signed 20-year offtake agreements with the Queensland state government. Canadian Solar reports that construction is nearing completion on Longreach and Oakey 1 with both set for grid connection between March and August.