The sale of Warwick Solar Farm to the University of Queensland has reached financial close, allowing UQ to become the first major university to offset 100 per cent of its electricity use through its own renewable energy asset.
Completion of the transaction occurred after the project successfully obtained grid connection approvals from the relevant authorities in early November.
Once fully operational, UQ’s solar farm will generate up to 160,000 MWh of renewable energy annually, displacing 125,000 tonnes of carbon dioxide emissions per annum. The project is expected to first export power in time for summer 2019/2020.
Lendlease will provide the EPC and O&M services to the project with notice to proceed having been issued. The detailed design phase is now officially underway, and construction will start early in 2019 creating up to 100 direct jobs.
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The landmark project represents a significant milestone for Terrain Solar and builds on the company’s track record across New South Wales and Queensland in delivering a portfolio of high quality and geographically diversified projects to the market.
Separately, Terrain Solar and PwC are developing a portfolio of PV solar projects of more than 200MW across New South Wales and Queensland. Once operational, the portfolio will span close to one million solar panels, helping to create an additional 600 construction jobs in the process.
Earlier this month a $1.5 million donation from the Trevor and Judith St Baker Family Foundation was made to UQ to establish the university as a leader in electric vehicle technology.
The donation will be used to establish a visiting fellowship that will bring a world-leading expert to UQ to advance environmentally friendly transport options.