Australian energy firm Origin Energy has announced its acquisition of Yarrabee Solar Farm in New South Wales (NSW).
Located in NSW’s Riverina district, the first phase of the solar facility is expected to comprise 450MW of capacity.
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This can be increased to up to 900MW under the planning approval granted by the NSW government in December 2018.
The acquisition is part of Origin’s strategy to expedite the growth of renewable energy among its portfolio.
Located within an important part of the Transgrid transmission network, Yarrabee Solar Farm was co-developed by Reach Solar Energy and PwC Australia.
The Transgrid network is due to be upgraded to support Snowy 2.0 and the South-West Renewable Energy Zone.
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By GlobalDataOrigin Executive energy supply and operations general manager Greg Jarvis said: “Origin aims to lead the energy transition to net-zero emissions through cleaner energy and customer solutions, and the acquisition of the Yarrabee Solar Farm development project demonstrates further progress on this ambition.
“We believe the Yarrabee Solar Farm can play an important role in helping Origin provide cleaner energy to our customers, while also reducing emissions from our generation portfolio.
“Our teams will now focus on progressing development activities prior to a final investment decision targeted over the next couple of years, subject to upgrades to the Transgrid transmission network.
“More broadly, the team continues to focus on the multi-gigawatt opportunity to grow renewable energy and storage, through developing greenfield sites or acquiring advanced stage pre-construction renewable projects like Yarrabee.
Origin recently acquired a solar facility in Victoria with 74MW of capacity, which is expected to come online next year.
In February, the company proposed to close its Eraring Power Station, a 2.8GW black coal plant, in 2025. The plant is currently due to be discontinued in 2032.
