The Clean Energy Finance Corporation (CEFC) announced that it has committed US$44.5 million in funding to RATCH-Australia Corporation to use in redeveloping a disused coal-fired power station in Collinsville, Queensland for a 42.5-megawatt solar farm.
The project is expected to generate enough energy to power about 15,000 homes. It will also receive additional funding from the Australian Renewable Energy Agency (ARENA).
According to Anthony Yeates, RATCH-Australia Corporation executive general manager, the finance from the CEFC and ARENA’s funding helped them repurpose a disused site which receives maximum sunshine can take advantage of the current infrastructure to feed its solar output into the grid. He also said that the project will feature 180,000 ground-mounted solar PV panels that will use a single-axis tracking system for maximum solar exposure.
This project will be the 10th project that the CEFC has funded through its large-scale Solar Program, thus bringing their program investment commitments to more than US$370M. The estimated total value of projects is US$900 M and a total generating capacity of over 400 megawatts.