Merredin Solar transaction achieves final closing

Voltiq congratulates its Singapore-based client Solar United Network Pte. Ltd. “SUN Energy” with the acquisition of the 132 MWp Merredin Solar Farm in Western Australia, from Hong Kong based Risen Energy.

The Merredin Solar Farm in Western Australia emerged as the country’s best performing utility-scale solar PV project in 2021. International consultancy Rystad Energy said it delivered an average capacity factor of 29.6% for the calendar year. The project has a 50% offtake agreement with BHP’s
Nickel West Kwianana mining company.

Voltiq acted as acquisition advisor to SUN Energy, whereby the deal was led by Voltiq Director Boaqing Miao and Partner Paul Rittersma. Paul comments “It was a pleasure to work with SUN Energy as well as with Risen Energy, who was the seller of the facility. Both companies are leading the way in Asia-Pacific and beyond, towards a net-zero energy economy. We are honoured to have been able to assist in this landmark transaction”.

Voltiq’s scope of work included among others financial modelling and valuation, acquisition-process management, assisting in negotiations on key
transaction documents, and coordinating and facilitating the DD process.