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Enel Green Power secures $126m loan for Australian solar-storage hybrid project

Italy’s Enel Green Power has secured project financing to support an AUD-190-million (USD 125.7m/EUR 125.7m) project to add solar and battery storage capacity in New South Wales, Australia.

The fresh funds will bankroll the construction of a 98-MW photovoltaic (PV) park with a 20-MW/40-MWh battery energy storage system, the unit of Italian utility Enel SpA (BIT:ENEL) said on Friday.

The Quorn Park hybrid park is planned to be installed near the town of Parkes in New South Wales’ Parkes Shire. The solar farm is expected to generate roughly 210 GWh of electricity annually, which will be enough to meet the demand of about 45,000 local homes.

The hybrid power project was jointly developed with Renewable Energy Developments Pty Ltd. Enel Green Power acquired the scheme in late 2022. The project has been granted development approvals from the New South Wales government and is planned to enter the construction phase in the third quarter of this year. The complex should become fully operational in 2026.

The site’s point of connection to the electricity grid is shared under single Generator Performance Standards (GPS), rather than two separate connection points in close proximity, Enel noted.

(AUD 1.0 = USD 0.662/EUR 0.662)


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