The 88MW (AC) 110 (DC) Bannerton Solar Park, being constructed in near Robinvale in the Sunraysia district in Victoria will help bring stability and diversity to the state’s energy supply. The CEFC is the sole debt financier to the project and its involvement demonstrates the commercial viability of the project due to the fall in the cost of building solar in Australia.
CEFC committed approximately AU$98 million for the solar project which is being developed by a joint venture between independent global infrastructure and private equity investment manager Foresight Group and Syncline Energy, a Victorian-based developer. Equity investment in the project will be provided by the UK-listed Foresight Solar Fund Limited (FSFL), Korean government-owned Korean Infrastructure Asset Management Company KIAMCO (each of whom are taking a 48.5 per cent stake) and Korea’s Hanwha Energy (3 per cent).