Two new solar farms will add a total of 200MW of solar generation capacity at Collinsville in north Queensland, with the CEFC committing $90 million in debt finance.
A 150MW (AC) Daydream Solar Farm and 50MW (AC) Hayman Solar Farm, both being developed by Edify Energy, will join three others under construction in the area.
Daydream Solar Farm, which is expected to be operational by mid-2018, has secured a 12-year power purchase agreement with Origin, while energy generated by Hayman Solar Farm will be sold into the grid on a merchant basis.
RCR Tomlinson is constructing the solar farms which are expected to generate around 300 jobs during construction. The projects consist of about 2 million solar panels.
Together, the solar farms, are expected to abate over 476,000 tonnes of carbon emissions annually, and generate enough power for an estimated 73,000 homes.
The CEFC is lending $90 million to the Daydream and Hayman projects as part of a syndicated debt facility involving Commonwealth Bank and French investment bank Natixis. BlackRock is providing equity towards the projects.
Daydream and Hayman will join two other Edify Energy projects currently under construction nearby - the 57.5MW Whitsunday Solar Farm and the 57.5MW Hamilton Solar Farm - which also received CEFC finance.
The CEFC has also committed $60 million in finance to the 42MW (AC) RATCH-Australia Corporation solar farm at the disused Collinsville Power station site.