Risen Energy acquires Yarranlea Solar Farm

calendar-icon 1st Mar 2018 | Announcements News

Risen Energy acquired 100% of the share of Yarranlea Solar Pty Ltd in late January 2018. The Yarranlea Solar Farm project, which will be located approximately 170 km West of Brisbane near Toowoomba, has a total capacity of 121 MW solar power.
As owners of the Yarranlea Solar Farm project, Risen Energy will take the project from detailed engineering design to construction, commissioning and thereafter own and operate the solar farm.
Once completed the Yarranlea Solar Farm power station will connect to the National Electricity Market, (NEM) via the nearby Yarranlea zone substation and is projected to produce 264 gigawatthour (GWh) each year, enough to power 52,800 South East Queensland households, with an emissions saving of approximately 124,000 metric tonnes of CO2 annually.
Yarranlea Solar Farm project commenced in 2016 and is expected to be completed by the end of 2018.
Over 200 jobs will be created during the construction phase of the plant which will have approximately 400,000 solar panels installed at the site.
Risen Energy will provide their global EPC experience to support the Yarranlea Solar project and will supply the latest PV panel technology and integrated battery storage to allow it to supply power to the grid during periods of peak demand.
John Zhong, Project Development & Investment Director, Risen Energy (Australia) said “due to wholesale electricity markets, Risen Energy will fund 100% of the Yarranlea Solar Farm project without finance. No PPA is attached to the Yarranlea Solar Farm project so we decided to go ahead with merchant to capture the NEM spot price.”
“There are a number of technical challenges with the generator performance standards (GPS). In discussion with AEMO and NSPs and supported by technical specialists, we secured the offer to connect from Ergon Energy and received approval from the Australian Energy Market Operator, (AEMO), under the National Electricity Rules, clause 5.3.4A for the proposed GPS for Yarranlea Solar Farm. We will continue to work with industrial specialists and consult with local council, electricity authority, regulator and local people to progress the project to the next stage to achieve the best outcome for the project and community” Zhong said.
Nick Canto, Founding Director of Yarranlea Solar Pty Ltd said “after an exhaustive expression of interest process from a range of local and international organisations, we quickly drew a conclusion that Risen was the right choice to take the project forward. We have had close dealings with Risen over a 12-month period, as the regulatory approval processes were finalised. This has reinforced our impression of their commitment to the project, community and we know they will be great custodians of the project going forward.”

About Risen Energy
Risen Energy, is a leading China-based PV solutions provider that’s traded as an A-share on China’s Shenzhen Stock Exchange and was founded in 1986.
Risen Energy (Australia) has had an established presence in the Australian market since 2008, supplying solar PV panels for the retail market, and funding, constructing and operating commercial and utility-scale solar projects.
Risen Energy has over 6500 employees globally and are the seventh largest PV module supplier in the world, completing over thousands of grid-connected projects globally, including self-developed projects that they manage directly.

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