Neoen has reached financial close on its 460 MW Western Downs Green Power Hub solar project located near Chinchilla in South West Queensland (Australia). The AUD600M (US$430m) project is supported by a 352 MW power purchase agreement (PPA) with CleanCo Queensland, which aims to reach 1 GW of new renewable power by 2025. Construction should start soon and commissioning is expected in 2022.
Solar already accounts for 20% of Australia’s installed capacity, with nearly 16 GW (end of 2019). There are currently 2 GW of solar projects under construction, while another 52 GW are under development.