The CEFC has committed up to $37 million in debt finance to Blue Grass Solar Farm, as part of a syndicate of lenders which also includes ING and the Sumitomo Mitsui Banking Corporation. It will feature 375,000 bifacial solar panels, which have an increased generation capacity compared with existing panels, as well as half-cut cells technology which reduces the cell to half the normal size. Blue Grass Solar Farm is expected to cut emissions by approximately 320,000 tonnes CO2-e per year.
The investment will also support Solar 30 30 30, an ARENA-led initiative that will help achieve ultra low-cost solar. The initiative aims for solar PV to achieve 30 per cent efficiency at 30 cents per installed watt by 2030 and will help drive down costs to meet the goal of solar electricity generation at $15 per MWh.