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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Rodds Bay Solar Farm Receives DA

The Rodds Bay Solar Farm is one step closer, with its owner Renew Estate given planning approval for the 300MW farm around 50km south of Gladstone in Central Queensland.

Rodds Bay Solar Farm

Rodds Bay Solar Farm - Gladstone
Rodds Bay Solar Farm – Gladstone (source: Google Maps)

The Rodds Bay Solar Farm was given planning approval last week with 40 conditions

Renew Estate director Simon Currie spoke about the ramifications of the solar farm – solar jobs for Gladstone, lower prices for residential and commercial solar buyers. 

“At its peak, a solar farm of this size requires about 300 workers on site,” said Mr. Currie in a statement, reprinted in the Gladstone Observer:

“We will collaborate with local training organisations to ensure local job-seekers have the skills needed to construct and operate a solar farm, and we will prioritise the employment of locals in enduring roles once the project is operational.”

“More generation and competition mean lower power prices and Renew Estate looks forward to delivering the cheap solar energy produced by this project to consumers andbusinesses in the greater Gladstone area.”
 
Wirsol Energy, who are a major shareholder of Renew Estate, are no rookies to the game – with 200MW already operating or under construction in Queensland. The company has a goal of deploying 1GW in Australia, according to managing director Mark Hogan.

“This is an exciting time for the solar industry in Australia and Rodds Bay will help us quickly reach our target of 1GW in Australia.” he said.

The Wemen Sun Farm which is located close to the border of Victoria and New South Wales and approximately 110km south east of Mildura is also being built by Wirsol Energy.
 
Renew Estate are also trying to find an alternative site to build a second solar farm in the area. Plans for its Yarwun solar farm are currently on pause after residents complained about the project.
 

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