Oakey Solar Farm to deliver solar power for 24,000 homes while supporting grid
- Renewable energy
Forecasting benefits for Oakey
The 80MW (AC) Oakey Solar Farm in south-east Queensland is expected to deliver enough renewable energy to power around 24,000 homes, while using forecasting technology that will help enhance grid stability and energy reliability.
The CEFC has committed $19.5 million in finance for the 25MW Oakey 1 project, and a further $55 million to the adjacent 55MW Oakey 2 project.
As part of the CEFC investment in Oakey 2, equity sponsor Foresight Solar Fund Limited will collaborate with the Australian Energy Market Operator to install suitable five-minute forecasting technology that can assist with enhancing grid stability as Australia transitions to higher penetration of renewables.
Oakey Solar Farm is on agricultural land and provides the local land owners with the opportunity to improve the resilience of their farming operations by generating an additional source of income through long-term leasing.
Queensland, Solar, Renewable energy