Infinergy divests 120-mw aussie solar project

March 23, 2018  (Renewables Now) - UK renewables developer Infinergy Ltd said on Friday it has unloaded a 120-MW solar project in New South Wales, Australia, for an undisclosed amount.

The Metz solar project was developed by Infinergy Pacific, a unit of the UK company, as part of a wider portfolio of photovoltaic (PV) parks in Australia. It was sold to clean energy investors, whose names were not disclosed.

To be located near the village of Hillgrove, the solar farm will be able to generate enough power to supply up to 40,000 average households and help offset 225,000 tonnes of carbon dioxide (CO2) emissions annually.

Infinergy Pacific was granted planning permission for the Metz project in July 2017 and by the end of this year expects to receive development rights for an additional 300 MW of solar schemes in New South Wales and Victoria, said Infinergy’s CEO Esbjorn Wilmar.

The UK firm will seek to enhance its business in Australia and New Zealand through expanding its solar and wind development portfolio in the two countries, Wilmar added.

Voltiq assisted Infinergy as exclusively mandated sell-side advisor regarding the transaction.