UK-based investment group United Green has signed an agreement to acquire a significant stake in the 300MW Rodds Bay Solar Farm.

The farm is currently owned by Renew Estate, a joint venture between Energy Estate, Beast Solutions and global solar operator WIRSOL Energy.

United Green chief investment officer Tim Mole said: “We are delighted to be announcing our first project in Australia, in such a dynamic part of Central Queensland.

“The strength of support for this project from the Queensland Government, the local community, local businesses and other stakeholders gives us great confidence in taking this project forward to construction and marks Renew Estate as one of Australia’s leading renewable energy developers.”

The Rodds Bay Solar Farm is located 50km south of Gladstone. Renew Estate expects construction of the farm to create more than 300 jobs with its investment of A$350m ($244m). It will be one of Australia’s largest renewable projects when completed.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Additionally, the solar farm has obtained planning approval for an integrated storage facility. It will link to Queensland’s 275kV transmission network between Bororen and Rodds Bay.

Renew Estate will continue to hold shares in the Rodds Bay project.

Renew Estate director Vincent Dwyer said: “We are passionate about the potential for Central Queensland as a renewable energy hub supporting heavy industry and are committed to supporting an energy transition there in partnership with the community.

“Rodds Bay will not only create direct employment through jobs on-site but will create major opportunities for suppliers across a range of areas.”

The company worked with Trade and Investment Queensland to secure the investment.