A joint venture (JV) of Enel’s subsidiary Enel Green Power (EGP) and Dutch Infrastructure Fund (DIF) has commenced construction on the 137.7MW Bungala Solar One photovoltaic (PV) plant in Australia.
Located near Port Augusta in South Australia, the project marks the first part of the Bungala Solar PV Project, whose total capacity will be over 275.4MW up on completion.
About 420,000 polycrystalline PV modules mounted on single-axis trackers will be installed at the Bungala Solar One facility, which will spread over an area of almost 300 hectares.
Enel has set aside approximately $157m for the project, while the required total investment of $315m has been financed through a mixture of equity and project finance with a consortium of local and global banks.
Enel has inked a long-term power purchase agreement with Australian utility firm Origin Energy. The power generated by Bungala Solar project will be delivered to the country’s transmission grid via the Emeroo and Davenport Substations near Port Augusta.
Construction of the second part of the project, Bungala Solar Two, is slated to begin by 2017- end, while the 275MW facility will be operational in the beginning of 2019.
Once completed, the project will be able to generate around 570GWh per annum, which will be sufficient to meet the energy consumptions needs of around 82,000 Australian homes. The project will help to slash over 520,000 tonnes of CO2 into the atmosphere per year.
Enel Green Power head Antonio Cammisecra said: “We are proud to lend our experience to the development of renewables in Australia through Bungala Solar, the country’s largest solar plant currently under construction.
“This project marks the first step of our growth strategy in a country which boasts such an abundant resource base and whose renewable capacity is expected to surge in the next years. Against this backdrop, Enel Green Power aims to become a key player in Australia’s green energy sector.”