Risen Energy Renewable Target (RERT) – 2 GW+

calendar-icon 10th Oct 2018 | News

Risen Energy Renewable Target (RERT) – 2 GW+
RERT 1 – Yarranlea Solar Farm (QLD) Construction Underway
RERT 2 – Merredin Solar Farm (WA) Share Purchase Agreement Signed
Risen Energy to acquire Merredin Solar Farm from Ingenious- backed Stellata Energy with the Share Purchase Agreement executed in October 2018.
Merredin Solar Farm is a proposed development for a 100 MW (AC) Solar PV farm at Merredin in Western Australia’s central wheatbelt. Merredin Solar Farm – Phase 1 will consist of circa 405,000 tracking solar PV modules covering an area of roughly 350 hectares, with an expected output of 281GWh of electricity per annum.
The Merredin Solar Farm will generate and deliver clean, renewable electricity into the South West Interconnected System (SWIS) each year making a major contribution to Western Australia’s greenhouse gas reductions.
Once connected Merredin Solar Farm will generate enough energy to power approximately 42,000 Western Australian homes annually.
Risen Energy Renewable Target (RERT) – 2 GW+
“Risen Energy (Australia) is going to invest progressively in an excess of 2 GW of renewable projects in Australia with further investments in storage in the future. We will be acquiring projects that are shovel ready, projects that are looking for financial and/or EPC partner, projects that are looking for a co-developer.” said John Zhong, Project Development & Investment Director, Risen Energy (Australia).
RERT 1 – Yarranlea Solar Farm (QLD) Construction Underway
RERT 2 – Merredin Solar Farm (WA) Share Purchase Agreement Signed
“Our first acquisition for the 100 megawatt (AC) Yarranlea Solar Farm in Queensland was completed in early 2018 and construction is underway. Merredin Solar Farm is our second acquisition with the Share Purchase Agreement executed in October 2018.”
“We will aim for completion of the acquisition of Merredin Solar Farm in late 2018 with 100% share outright purchase of Merredin Solar Farm SPV as soon as possible.”
“Risen Energy will fund some equity of the Merredin Solar Farm project with an aim to achieve financial close in late 2018.” continued Zhong.
Sebastian Speight, MD of Ingenious Infrastructure (joint venture partner in Stellata), commented “We are delighted to have reached this milestone with Risen and are looking forward to getting the project into construction at the end of 2018”.

About Merredin Solar Farm
Plant Size 132 MWp
Location Merredin WA 6415
Approximate Land Area Required ~350 Ha
Expected Output (Per Annum) 281 GWh
Projected Project Life 30 Years
Grid Connection Merredin Terminal Substation
Network Operator Western Power
Commencement Of Construction Target Late 2018
Commercial Operations Date Target Late 2019

About Risen Energy
Risen Energy was founded in 1986 and is a leading China-based PV solutions provider that is traded as an A-share on China’s Shenzhen Stock Exchange.
Risen Energy has over 6,500 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.
Risen Energy (Australia) has had an established presence in the Australian market since 2008, supplying solar PV panels for the retail market. Its long-term goal also includes the funding, constructing and operating commercial and utility-scale solar projects.
www.risenenergy.com

About Stellata
Stellata is a joint venture comprising Stellata Energy and London based Ingenious Infrastructure, with the JV team comprising more than 35 industry specialists. The Stellata JV team have developed over 500MW of utility scale solar PV assets across the UK and Europe, with Merredin Solar Farm representing the successful development of their first utility scale solar project in Australia.
www.stellata.com.au
www.theingeniousgroup.co.uk

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