Energy Made Clean and Lendlease Services to Invest USD15.4 Million in Solar Power Plant in Northam, Western Australia

Published: Mar 20 2017
Deal Summary

Energy Made Clean Limited, a company engaged in construction and operations of microgrids, commercial scale solar projects and energy storage systems, and Lendlease Services Pty Ltd., a subsidiary of Lendlease Group, an infrastructure company, have agreed to invest a minimum of AUD15 million (USD11.55 million) and a maximum of AUD20 million (USD15.4 million) in the construction and development of a solar power plant situated on 25 Hectares of strategically located land 100km east of Perth, Northam, Western Australia. The total installed capacity of the power plant will be 10 MW comprising 34,000 solar panels. The investment per MW will be USD1.54 million. The power plant is expected to generate approximately 24,000 MWh of electricity per annum or enough to power over 4,000 households for 25 years.

The companies are currently in discussions with third party providers of both equity and debt and has a range of funding options to take the project through to completion, including shared ownership models. The companies have the option to sell energy in the wholesale electricity market (WEM), or to deliver large scale generation certificates (LGC) to third party customers through either direct power purchase agreements (PPA) or their own energy retail license or some combination of both.

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