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September 16, 2021

Amp Power Australia secures financing for 120MW solar farm

The Hillston Solar Farm will generate enough energy to power almost 48,000 households once completed.

By Umesh Ellichipuram

Amp Power Australia, the Australian operating company of Amp Energy, has secured financing for its 120MW Hillston Solar Farm in New South Wales (NSW).

The project financing agreement was signed with French multinational financial services firm Natixis and Export Development Canada (EDC).

EDC served as mandated lead arranger for the agreement, while Natixis provided the letter of credit and acted as sole hedging provider.

Amp Australia executive vice-president and head Dean Cooper said: “Amp is pleased to begin a strategic relationship with Natixis for future financing of Amp projects in Australia and globally, and [we] acknowledge the continued support of EDC.”

The Hillston Solar Farm is expected to come online by early next year and will have the capacity to generate almost 235,000GWh of clean energy a year.

The solar facility will generate enough energy to power around 48,000 households.

This financing adds to Amp’s presence in Australia, with the company’s 39MWdc Molong Solar Farm in NSW having begun commercial operations earlier this year.

Amp’s expansion in the country includes the implementation of Amp X, a digital energy platform that offers a ‘disruptive’ and ‘interoperable’ grid edge digital platform.

Amp X features an artificial intelligence (AI) powered virtual power plant capability, which facilitates the real-time autonomous management and optimised dispatch of battery energy storage (BESS) assets across the grid.

In May, Amp Power Australia announced plans to establish a portfolio of integrated solar photovoltaic (PV), wind and BESS assets.

The Renewable Energy Hub of South Australia (REHSA) will involve a total investment of more than A$2bn ($1.54bn).

The portfolio comprises three solar PV projects, with a total capacity of more than 1.3GW.

Amp Power acquired the projects from EPS in order to feed the energy hub.

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