Where we invest

Solar

Solar

Large-scale solar has been growing rapidly in Australia since the first large solar farm began generating in 2015.  There is more than 275 MW of capacity in the National Electricity Market across seven large solar farms, with nearly 7,000 MW of new projects proposed.  Australia has the highest average solar radiation per square metre of any continent in the world, with viable resources in every state and territory.

Solar costs have declined dramatically and are continuing to fall as new plants are deployed.  Solar PV technology is well understood.  Large-scale solar PV costs are on track to be competitive with other technologies without additional support.

The CEFC has made substantial commitments to accelerate the development of several large-scale solar projects, and to take advantage of Australia's natural advantage in solar:

  • Edify Energy has secured finance commitments from the CEFC for five solar projects, including $90 million towards the development of the 150MW (AC) Daydream Solar Farm and 50MW (AC) Hayman Solar Farm near Collinsville in Queensland and $77 million to three solar farms, the 50MW (AC) Gannawarra Solar Farm in Victoria and two 57.5MW (AC) solar farms - Hamilton and Whitsunday - also near Collinsville.
  • The CEFC's commitment of $60 million to RATCH-Australia is helping the redevelopment of the disused coal-fired power station at Collinsville as a 42MW (AC) solar farm that is expected to generate enough energy to power 15,000 homes.
  • Our $20 million investment in the Ross River Solar Farm near Townsville is the CEFC's first equity stake in a solar farm, sending an important signal to institutional investors about the commercial potential of greenfield clean energy developments. When completed in 2018, the $225 million Ross River Solar Farm is expected to generate enough energy to power the equivalent of 65,000 homes.
  • Regional New South Wales is benefitting from a $150 million investment commitment from the CEFC, to accelerate the construction of three major solar projects with a total value of $230 million. The three large-scale solar farms will be built in Dubbo, Parkes and Griffith. They are the first projects to receive debt finance under the CEFC's large-scale solar financing program and, together, represent the CEFC's most substantial commitment to large-scale solar to date.
  • Genex Power Ltd has secured $54 million in CEFC debt finance for the development of the Phase One 50MW large-scale solar farm at its Kidston Renewable Energy Hub, near Townsville. The solar farm is expected to lead to the Phase Two development of a pumped hydro storage project on the same site.
  • Central Queensland's Barcaldine Solar Farm began generating and feeding power into the grid in December 2016, within just a year of the CEFC announcing its $20 million finance commitment. The project was a fast build, demonstrating how knowledge and expertise developed for Australian conditions is benefiting the entire solar sector.
  • The CEFC also provided finance for the Moree Solar Farm, in an innovative transaction which was named IJ Global's 2014 Asia Pacific Solar Transaction of the Year.
  • The CEFC is committing a total of $31.5 million to Canadian Solar's 15MW Longreach Solar Farm in Central Queensland and 25MW Oakey Solar Farm on Queensland's Darling Downs. 
  • Read more about our large-scale solar program, and our commitment to support the accelerate development of large-scale pumped hydro storage.