UK solar and energy storage company, Luminous Energy, has announced the sale of its largest PV project located in Australia, the 203MW Columboola Solar Farm, to South Korea-based firm Hana Financial Investment.
Luminous Energy recently signed a power purchase agreement (PPA) with CS Energy, a Queensland Government-owned energy business.
The Columboola Solar Farm was developed with PwC Australia and it aims to support Queensland’s target of 50% renewable energy generation by 2030. The ten-year PPA with CS Energy is for 100% of the site’s output, 450GWh each year, and is one of Australia’s most substantial renewable energy contracts ever.
Luminous Energy CEO Jolyon Orchard said: “Australia is a major market in the global solar revolution and the country’s solar industry has huge potential. This project showcases how innovation can help secure an impactful and prestigious PPA, such as that with CS Energy, and interest from a world-class investor, such as Hana Financial Investment. It supports our vision to accelerate the growth of the global solar industry by generating low cost, reliable electricity while respecting the natural environment.”