Australian solar farm developer ESCO Pacific has confirmed financial backing for its Queensland solar farm projects at Susan River and Childers.
Making the announcement last week, the company said that hedge fund Elliott Advisors (UK) would provide financial backing for both the 98MW Susan River Solar Farm (between Hervey Bay and Maryborough) and the 75MW Childers Solar Farm.
Affiliates of Elliott will own 100% of the projects and will fund both projects through to connection.
ESCO Pacific Managing Director and founder Steve Rademaker said that Australian solar projects were good news for both savvy investors and local communities.
‘It is clear that Australian merchant solar remains an attractive opportunity for experienced investors,’ he said.
‘ESCO looks forward to continue bringing jobs and growth to regional Australia through its extensive pipeline of highly advanced projects currently under development.’
The company said that construction of the Susan River and Childers solar farms could now commence and was expected to take 9 months.
Also last week, local papers reported that Fraser Coast Council has approved development of a 400.67ha solar farm near Bauple, half an hour south of Maryborough.
Renewable energy is identified as one of the key sectors for investment attraction in the Queensland Trade and Investment Strategy 2017–2022.