Maoneng Australia’s 255MWp Sunraysia Solar Farm has reached financial close.

The asset is underpinned by two world class Power Purchase Agreements (PPAs) under which UNSW Sydney and AGL Energy (AGL) will purchase energy over 15 years.

Maoneng entered into a long-term equity partnership with John Laing for the investment and development of the Sunraysia Solar Farm. In addition, the project has secured debt financing from Nord L/B, ING, Mizuho, Bank of China and National Australia Bank (NAB).

AGL Executive General Manager Wholesale Markets, Richard Wrightson, said, “We are pleased to see the Sunraysia Solar Farm achieve this significant milestone.”

“Through our offtake agreement with Maoneng Australia, we are proud to support this project, and look forward to a safe and successful construction phase.”

Decmil has been appointed as the head contractor for the project under an Engineering, Procurement and Construction (EPC) contract, and will also undertake the project’s operations and maintenance when the solar farm is in operation.

The Sunraysia Solar Farm will be the largest solar farm to have commenced construction in Australia this year and will be one of the largest solar farms in the world upon construction completion.

Maoneng will act as both the construction manager during the construction period and the asset manager during operations.

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