The Australian Renewable Energy Agency (ARENA) and the Clean Energy Finance Corporation (CEFC) have announced $350 million in new funding initiatives which are expected to lead to at least four, and as many as ten, new large-scale solar farms being built across Australia.
ARENA has announced a $100 million programme that is seeking bids from major solar PV project proponents for grants of up to $30 million. Projects must have a minimum generation capacity of 5 megawatts.
CEFC has announced a complementary $250 million financing programme, which will support large-scale solar projects with loans of $15 million or more.
The funding aims to support the development of 200 megawatts of large-scale solar capacity. Currently, Australia’s large-scale solar projects consist of around 155 megawatts in solar capacity being created at AGL’s twin solar farms in Broken Hill and Nyngan and 56 megawatts at the Moree Solar Farm. Smaller farms in Royalla and Greenough River together have 30 megawatts of capacity.