Bright Acre Energy – Solar IPO, 2019 Plans

European solar project developer Wirsol Energy have an Australian arm known as Bright Acre Energy. The company has been working on a $500m IPO of their Aussie solar portfolio, but news is thin on the ground lately. Let’s take a look at what to expect from BAE in 2019.

Bright Acre Energy $500m Australian Solar IPO

Bright Acre Energy Gannawarra Solar Farm
Bright Acre Energy Gannawarra Solar Farm (source: brightacreenergy.com.au)

Bright Acre Energy have ten projects in various stages of completion, situated in Victoria, New South Wales and Queensland. According to the Australian Financial Review, the projects are set to fully connect to the national power grid by the end of 2019. These five projects will total over 1100MW, which is enough electricity to power 350,000+ houses. The official site names the farms as currently having 397MWp of nameplate capacity, with half of this commercially operational and the other half ‘almost there’. 

Former Australian rugby union player Bill Calcraft was the CEO last year, and along with Gerard Dover the site has them listed as ‘Proposed Management’ – so not sure what this means for 2019 – and there hasn’t been any specific news on their potential IPO. We’ve reached out to the team and will keep you updated if we find out anything about Bright Acre’s plans for the rest of the year. 

Bright Acre Energy are currently responsible for the following projects, as per their website:

  • Hamilton Solar Farm (Collinsville, QLD) (Operational) (69MWp)
  • Whitsunday Solar Farm (Collinsville, QLD) (Operational) (69MWp)
  • Clermont Solar Farm (Clermont, QLD) (Near-term Operational) (89MWp)
  • Springdale Solar Farm (Springdale, NSW) (Pipeline) (120MWp)
  • Bomen Solar Farm (Bomen, NSW) (Pipeline) (120MWp)
  • Hay Solar Farm (Hay, NSW) (Pipeline) (140 MWp)
  • Buronga Energy Station (Buronga, NSW) (Pipeline) (400MWp)
  • Wemen Solar Farm aka Wemen Sun Farm (Wemen, NSW) (Near-term Operational) (110MWp)
  • Gannawarra Energy Storage System (Kerang, VIC) (25MW/50MWh)
  • Gannawarra Solar Farm (Kerang, VIC) (60MWp)

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Finley Solar Farm | Canadian Solar KuMax Modules

Canadian Solar have announced that the Finley Solar Farm will be using their KuMax modules and EPC services for the $170m project in New South Wales.

Finley Solar Farm | Canadian Solar KuMax Modules

Finley Solar Farm
Finley Solar Farm (source: FinleySolarFarm.com.au)

The Finley Solar Farm will use almost half a million Canadian Solar CS3U-P Kumax Panels with single axis tracking, according to SolarQuotes. The modules are ‘split cell/half cut’ with 144 cells per module. Canadian Solar don’t have a huge presence in Australia yet, and it looks like they are going to focus on commercial solar installations for the time being. The farm will cost around $170m and will be built 6km west of Finley (which is located around 140km west of Albury, which is a city in southern New South Wales with a population of around 51,000).  According to their website, the 175MW farm will be developed by ESCO Pacific, one of Australia’s leading renewable energy developers, with construction being managed by Signal Energy Australia.

Canadian Solar Chairman and Chief Executive Officer Dr. Shawn Qu discussed their input in the project:

“We are delighted to be selected by ESCO Pacific to provide EPC (Engineering, procurement and construction) services together with Signal Energy and to supply our 1500V crystalline module to this large-scale solar power plant,” said Dr. Qu in a statement on the official Canadian Solar website. 

The farm has started construction (which started in December 2018) and the Finley Solar Farm is expected to be completed in Q3 this year, so not long at all! The energy has already mostly been spoken for, with a 7 year PPA signed last July by ESCO Pacific and Bluescope for the Finley Solar Farm to sell 66% of its output to Bluescope – with the PPA (Power Purchasing Agreement) the biggest corporate PPA of its kind in Australia at the time. 

John Nowlan, the head of Australian steel at BlueScope, said the contract will be a step in the right direction while they continue to support the National Energy Guarantee and rely less and less on non-renewable energy:

“(The contract) will help keep downward pressure on our energy costs, and will support the gradual transition to renewable energy,” Mr Nowlan told the Australian Financial Review.

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Mannum Solar Farm Greenlit | Murraylands Solar

The 5MW Mannum Solar Farm in the Murraylands will be built by Tetris Energy, and has been approved by the local government. 

Mannum Solar Farm

The Mannum Solar Farm will be 5MW in size, generated by 17,500 solar panels. It will also include a security fence and vegetation screen to ensure neighbouring property owners aren’t disturbed (sometimes we hear about glint and glare when there is solar farm opposition). The farm will be across the road from the Rivapak onion packaging facility. 

An article in the Murray Valley Standard noted that over 8000 households in the Murraylands area have solar panels installed on the roof of their properties – so it’s an amazing area which shows that South Australian solar is continuing to grow domestically and commercially.

Tetris Energy, based in Melbourne, will develop the site. They have already successfully developed 10 solar and wind power plants across Australia so they have a good pedigree – and they have also already secured a purchaser of all 5MW of the power (not named) – but this is obviously a fantastic boost for the farm and will ensure it gets built quickly. The proposal had been approved last April, but had the number of solar panels slightly reduced (in the November application) so they don’t overshadow each other. 

Murraylands Solar Farms

There are already three other solar farms in the Murraylands area:

Clean Energy Council chief executive Kane Thornton discussed solar uptake in the Murraylands in the Murray Valley Standard:

“Homes with rooftop solar installed are saving an average of about $540 per year on their electricity bills,” he said.

“Solar is a clear way for consumers to take control of their power consumption and cut costs, and it’s growing quickly by word of mouth.” Mr. Thornton continued. 

Kane Thornton - Clean Energy Council - Mannum Solar Farm
Kane Thornton – Clean Energy Council – Mannum Solar Farm (source: LinkedIn)

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Yarrabee Solar Project | NSW’s Biggest Solar Farm

The $1b, 900MW Yarrabee Solar Project has been greenlit and will be New South Wales’ largest solar farm. It will be built by Reach Solar Energy in stages, starting this year. 

Yarrabee Solar Project | 900W | $1b

Yarrabee Solar Project Location
Yarrabee Solar Project Location (source: yarrabeesolar.com)

The Yarrabee Solar Farm project location has been classed as “moderate agricultural capability” (i.e. not ‘prime agricultural) and as such has had a lot less troubles getting approved. It’ll be built in stages, according to the Sydney Morning Herald, and, although the final cost is slated to be somewhere around $1b, the first stage will represent 300MW with a 35MW/70MWh solar battery (as per the application on the NSW Planning and Environment website). The official website notes an ‘Energy Storage System’ so we’re not 100% sure what is going to end up happening with large scale energy storage on the site, but there’s definitely potential at Yarrabee for it! 

According to the official website, construction of the farm will result in a lot of solar jobs for the region – with 150-200 workers onsite each day, and up to 450 in peak activities. After the project is complete, 15-25 full time jobs will be created. It’s expected to power the equivalent of 315,000 homes when completed. 

The farm will be built by Reach Solar Energy who are also responsible for the 275MW Bungala Solar Farm which will be commencing stage 3 of its construction this year, so they have a pedigree with regards to successfully delivering large-scale solar farms in Australia. Construction is expected to take two years for phase 1 (300MW) and will be connected to the adjacent transmission network (Wagga 330kV to Darlington Point transmission line). 

The address of the solar project is: 2354 Back Morundah Road, Morundah.

For further information about the project approval, please contact the planner, Diana Mitchell via email at [email protected].

Reach have also created a video about the solar farm which you can view below!

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Walgett Solar Farm to supply 50% of UTS solar

The University of Technology of Sydney (UTS) has signed a PPA with the Walgett Solar Farm which will cover 50% of its energy usage.

Walgett Solar Farm

The $40m Walgett Solar Farm was approved by the NSW government last year – it will eventually output 32MW and is now reaching the next stage of its project lifecycle.

The farm is owned fully by Epuron, who will be able to commence construction on the project after signing this PPA with UTS.

“For our renewable projects to be able to attract finance and get built, it’s crucial to find suitable partners to become committed customers and provide certainty,” Epuron Director Martin Poole told PV Magazine.

“With the UTS commitment to purchase our clean energy output, the Walgett Solar Farm can move ahead and we look forward to commencing construction in the coming months.” Mr Poole continued.

The project is expected to be built in two stages with the first stage outputting around 15MW.

The Walgett Solar Farm will generate approximately 63,000MWh p.a. once complete – enough to power almost 10,000 homes in New South Wales. 

UTS Solar

Walgett Solar Farm
Walgett Solar Farm PPA will help power UTS (source: newsroom.uts.edu.au)

This is the third PPA UTS have signed to add to its renewable portfolio – their main goal, as we wrote last year, is to completely offset their energy usage with renewable energy via a $1.3b ‘City Campus Master Plan’.

“We are committed to finding sustainable solutions to reduce our environmental impact,” UTS Vice-Chancellor Attila Brungs said. “But we don’t just want to create improvement for ourselves, we want to change whole systems to enable others to also improve their sustainability. UTS has spent the last couple of years researching and creating an effective energy model to help reduce emissions while also supporting the continued growth of the renewable energy sector.”

They’ve installed six solar systems on rooftops at the UTS campus and, by 2020/21, are hoping to reduce their emissions 30% on 2007 levels. 

In other university solar news, the University of Newcastle is doing great things with printed solar cells.

 

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