SUN Energy to acquire Merredin solar farm in Australia
Published by Bella Weetch,
Editorial Assistant
Energy Global,
SUN Energy has signed a binding agreement, subject to conditions, to acquire 100% of the assets of the 132 MWdc/100 MWac Merredin solar farm (Merredin) from Risen Energy, a leader in global solar technology.
Merredin is one of the largest operating solar farms in Western Australia with a total of 354 452 panels spread over 460 ha. and expected annual renewable power generation of 274 GWh. This is enough green energy to power approximately 42 000 homes in Western Australia. Operational since August 2020, Merredin is connected to the Western Power Merredin Terminal Substation at 220 kV. The project has also obtained development approval to deploy up to 20 MW/40 MWh of a Battery Energy Storage System (BESS) onsite which will help stabilise the grid system in Western Australia and create additional revenue streams. SUN Energy and Risen Energy will jointly explore development of the BESS at Merredin post transaction completion.
BHP has an offtake agreement for 50% of the power from Merredin which is directed to their Nickel West Kwinana refinery and Kalgoorlie Smelter. This enables BHP to reduce emissions from electricity use at these facilities by 30 - 50%. The project also has an agreement with Sunshot Energy for the offtake of Large-Scale Generation Certificates (LGCs) generated by the solar farm. Risen Energy will remain as the O&M contractor for Merredin after the acquisition.
SUN Energy is one of the largest commercial and industrial solar companies in Indonesia with a growing regional footprint. The company’s vision is to ‘electrify’ Indonesia with green energy, ensuring a sustainable environment for future generations. After solidifying its roots in Indonesia, it is actively pursuing regional expansion through acquisitions in key renewable energy markets such as Australia, Taiwan, Thailand and Vietnam.
The acquisition of Merredin forms an integral part of SUN Energy’s expansion strategy, with an ambition to become a regional leader in renewable energy solutions for both corporate and residential customers. Merredin provides the group with a strong foothold to grow in the most developed and dynamic renewable energy market in APAC.
SUN Energy was advised by Voltiq (financial) and DLA Piper (legal) on the transaction, while Risen Energy was advised by Holding Redlich (legal).
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2021 issue
The Autumn issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including MISTRAS Group, Fugro, X1 Wind, Sulzer, and more.
Read the article online at: https://www.energyglobal.com/solar/29102021/sun-energy-to-acquire-merredin-solar-farm-in-australia/
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