Lighthouse Infrastructure and DIF announce the acquisition of Clare Solar Farm
Lighthouse Infrastructure (Lighthouse) and DIF has announced that they have each acquired a 50% equity interest in the Clare Solar Farm from Fotowatio Renewable Ventures (FRV).
Developed by FRV, the Clare Solar Farm is located around 35 km south-west of Ayr in Northern Queensland. The 125MW (DC) photovoltaic solar farm is currently under construction and is scheduled to commence operations in late 2017. The project will create up to 200 jobs during construction and when completed will generate enough electricity to power approximately 42,000 Queensland homes, abating nearly 200,000 tonnes of CO2e emissions annually.
Origin Energy has entered a long-term contract to purchase 100% of the electricity output and large-scale renewable energy certificates (LGCs) generated by the project, which will utilise single-axis tracking mounts to optimise the generation at the site.
RBC Capital Markets and Société Générale were financial advisers to Lighthouse and DIF in relation to the acquisition and King Wood Mallesons acted as legal adviser.
