- Wirsol Energy and Renew Estate have joined hands to develop more than 1 GW of renewable power capacity in Australia
- Over 400 MW of solar power capacity is already underway with construction expected to start in Q1/2018
- Pipeline will be made up of storage ready projects
- They will be identifying more opportunities in Australia-Pacific region, including Fiji and New Zealand
Germany’s Wirsol Energy and Australian renewable energy developer Renew Estate are coming together to develop renewable energy projects of over 1 GW capacity in Australia. Of this, more than 400 MW of capacity is already underway. Construction on this capacity is expected to start by Q1/2018.
The pipeline will comprise storage-ready projects. The partners are already identifying other development opportunities in the Australia-Pacific region. Renew Estate said it has identified some promising projects in Fiji and New Zealand.
Global law firm Norton Rose Fulbright and energy advisory firm Beast Solutions are Renew Estate’s advisers for the deal.
“We have already successfully entered the Australia market with the acquisition of the first large scale portfolio of solar farm projects (200MW in QLD and VIC),” said Managing Director of Wirsol Energy Limited, Mark Hogan. “We have delivered over 1 GW of innovative solar projects in Europe and are now committed to developing a portfolio across Australia.”
Wirsol Energy is the renewable energy arm of Germany’s Wircon Group. The company acquired 198 MW of solar power capacity in Australia in March 2017. Combined solar power capacity of the three plants was 165 MW AC (see State Financing For 165 MW PV Plants In Australia).
The German company currently has a strong focus on Australia. It recently opened its new office in Sydney and registered an entity. It aims to develop 1 GW of solar power capacity across Australia by 2020.