ENGIE Achieves Financial Close on 250 MW Goorambat East Solar Farm, Paving the Way for Major Renewable Energy Expansion in Victoria

ENGIE Achieves Financial Close on 250 MW Goorambat East Solar Farm, Paving the Way for Major Renewable Energy Expansion in Victoria

(IN BRIEF) ENGIE has reached Financial Close for the Goorambat East Solar Farm, a 250 MW renewable energy project in northern Victoria. With construction set to begin soon and completion expected by 2026, the solar farm will provide enough electricity to power 105,000 homes, enhancing Victoria’s energy security. The project represents a significant investment in regional Victoria, creating around 250 jobs during construction. ENGIE has also committed to a community benefit fund and electricity rebates for local residents. The solar farm will connect to the grid via a new terminal station managed by AusNet.

(PRESS RELEASE) LA DÈFENSE, 16-Aug-2024 — /EuropaWire/ — ENGIE has successfully reached Financial Close for its Goorambat East Solar Farm, marking a pivotal milestone in the development of a significant renewable energy project located near Goorambat and Benalla in northern Victoria. This 250 MW solar farm is set to become a cornerstone in ENGIE’s efforts to expand its renewable energy footprint in Australia.

Ms. Laura Caspari, ENGIE Australia’s Managing Director of Renewables, announced that key landholder agreements with local families in Goorambat have been finalized, enabling the commencement of early construction works. With Financial Close achieved, the engineering, procurement, and construction (EPC) contractors, Bouygues Construction Australia and Equans Solar & Storage, along with AusNet, responsible for connection works, have been given the green light to proceed with full-scale construction, which is expected to begin in the coming months.

“The Goorambat East Solar Farm project is a critical step forward in our mission to deliver 3 GW of renewable energy in Australia by 2030,” Ms. Caspari stated. “This project not only aligns with our strategic growth objectives but also underscores our commitment to decarbonization and contributing to a sustainable energy future for Victoria and Australia as a whole.”

Upon completion, slated for 2026, the Goorambat East Solar Farm will generate enough clean energy to power approximately 105,000 Victorian homes, significantly enhancing the state’s energy security. The project also represents a substantial private investment in regional Victoria, expected to create around 250 jobs during the construction phase. Additionally, ENGIE has committed to a community benefit fund, offering $75,000 annually throughout the project’s lifespan, and up to $1,000 in annual electricity rebates for eligible nearby residents once the solar farm is operational.

The solar farm’s design has been carefully planned to optimize the use of northern Victoria’s excellent solar resources and existing transmission infrastructure. ENGIE has incorporated extensive community input, expert advice, and regulatory guidance to ensure that the project not only meets energy needs but also delivers positive outcomes for the local community.

Strategically located approximately 500 meters east of Goorambat and 12 km north of Benalla, the solar farm will connect to the grid via a new Goorambat East Terminal Station. This connection will be managed by AusNet and linked to the existing 220kV transmission line between Shepparton and Dederang Terminal Stations, under agreements with the Australian Energy Market Operator (AEMO).

For further details on the project and the associated electricity rebate program, visit ENGIE Australia’s renewables rebate page.

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SOURCE: ENGIE