Oakey Solar Farm in Queensland, Australia, reaches financial close

Canadian Solar has announced that the Oakey 2 Solar Farm in Queensland, Australia, has reached financial close with the Clean Energy Finance Corporation (CEFC)
Oakey Solar Farm in Queensland, Australia, reaches financial close

The project has a capacity of 70 MWp and is part of the aggregate 117 MWp solar portfolio sale to Foresight Solar Fund Limited (FSFL). Canadian Solar has also won the EPC contract to complete the construction of the solar farm and another contract to provide O&M services for the initial two years after completion. The facility will be powered by 205,860 Canadian Solar KuMax CS3U-340P solar panels and is expected to reach commercial operation in November 2018. Once operational, it will generate approximately 138,800 MWh of clean solar power per year, powering over 23,000 homes in Queensland.

CEFC has provided non-recourse project finance to Canadian Solar's Oakey 1 Solar Farm, Longreach Solar Farm and Oakey 2 Solar Farm projects in Queensland. Longreach Solar Farm and Oakey 1 Solar Farm are in the later stages of construction and are expected to be connected to the grid in March and August 2018 respectively. Both Oakey 1 and 2 solar farms will be connected to the Queensland power grid through a transmission line, funded by CEFC.

“We are pleased to partner with FSFL and the CEFC on extending our integrated business across the solar value chain in Australia's clean energy sector” said Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

Canadian Solar was founded in 2001 and is one of the world’s largest solar power companies. Canadian Solar has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has delivered over 24 GW of premium quality modules to over 100 countries around the world.

For additional information:

Foresight Solar Fund

Canadian Solar

Clean Energy Finance Corporation (CEFC)

Tags: Solar , Australia , Grid
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