By: greenbank On: July 01, 2015 In: Comments: 0

CEFC committed up to AU$15 million finance towards the AU$40 million Integrated Solar and Battery Storage project in north-east of Perth in Western Australia. The Australian Renewable Energy Agency (ARENA) is supporting the project with AU$20.9 million funding. Leading French renewable energy firm Neoen has acquired the project and is providing equity towards it. A six-year power purchase agreement will enable Sandfire Resources to access the power generated by the solar plant at agreed rates. If the mine continues operating past this point, ARENA funding will be paid back as the plant continues to generate solar energy.

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