Edify and Wirsol Joint Venture Awarded 70MW in ARENA Large Scale Solar Program
Solar Project – Whitsunday – Queensland, Australia
LONDON, UK September 8th, 2016 – Wirsol Energy Ltd (“WIRSOL”), the company founded by and a subsidiary of WIRCON GmbH that focuses on both on-shore wind markets and solar markets, today announces that through its collaboration and joint venture with Edify Energy Pty Ltd (“EDIFY”) have been awarded funding through the Australian Renewable Energy Agency’s (“ARENA”) Large Scale Solar (“LSS”) funding round announced earlier today in Sydney.
Edify in collaboration with local developer Solar Choice developed the project and obtained the necessary licences over recent years. The advanced stage of development of the project, its scale with a 10,000 acre land footprint, the irradiation levels at the site, as well as its proximity to a grid connection are all strong project attributes. The 70MWp solar project will be funded via the Wircon group with construction planned to start early in 2017 with a view to connect in Q4 2017.
John Cole, Chief Executive and founder of Edify, commented, “The Whitsunday project has been a key focal point for both Edify and Solar Choice over recent months and indeed years. Securing the ARENA grant funding is a milestone for this project and will help provide the catalyst in the ultimate buildout of a very large solar project with our partners Wirsol. We welcome ARENA’s and the Queensland Government’s involvement in kick starting the utility scale solar in Australia. We are excited to be at the forefront of the large scale Australian solar PV sector and producing a significant volume of renewable energy. This is just the beginning for Edify.”
Mark Hogan, Managing Director of Wirsol, commented, “We are delighted to have formed our joint venture with Edify under the leadership of John Cole. Having acquired several projects via a company he previously co-founded in the UK, we feel confident of the quality and reliance of this and other projects in Australia. Having ARENA funding is a wonderful accolade and reflects our vision for the future as solar takes a stronger footing across all states in Australia”.
ARENA CEO Ivor Frischknecht said Australia’s big solar industry was coming of age thanks to ARENA support, ensuring large-scale solar was a competitive, sustainable energy option. ARENA had been a driving force in bringing down costs and accelerating the commerciality of large-scale solar in Australia and has carried out a multiyear plan to build capacity in Australian supply chains and expertise over successive projects,” Mr Frischknecht said, “The 12 new plants slated for funding through this round will provide enough energy to power 150,000 average Australian homes and deliver one tenth of the new capacity required to meet Australia’s 2020 renewable energy target. Australia’s big solar revolution is tantalisingly close and, as more home-grown businesses step up to provide construction, engineering and financial services, this newest tranche of ARENA-supported projects is well positioned to take the sector even closer to commerciality.”
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About WIRCON GmbH:
WIRCON GmbH is a customer focused company in planning, financing, installation and maintenance of renewable power stations of all sizes. WIRCON brings all of these components together smoothly for customers and investors. WIRCON focuses on carefully selected large onshore wind and solar projects together with integrated with energy management and storage solutions. Our market is addressed under the own brands WIRCON and WIRSOL as well as in close collaboration with energy providers looking for de-centralized renewable solutions to enhance their so far commodity based business models. For additional information visit: www.wircon.eu
About Edify Energy Pty Ltd
Edify Energy is an Australian renewable energy development and investment company, founded by John Cole in 2015. Edify Energy provides development capital to projects, and works with its partners to ensure high quality renewable energy projects are structured, financed and brought into operation. Edify Energy is funding and supporting the development of a large portfolio of renewable energy projects and is committed to delivering the projects and producing clean green electricity for the Australian electricity consumers.
ARENA was established by the Australian Government to make renewable energy technologies more affordable and increase the supply of renewable energy in Australia. Through the provision of funding coupled with deep commercial and technical expertise, ARENA provides the support needed to accelerate the development of promising new solutions towards commercialisation. ARENA invests in renewable energy projects across the innovation chain and is committed to sharing knowledge and lessons learned from its portfolio of projects and information about renewable energy. ARENA always looks for at least matched funding from the projects it supports and to date has committed $1.1 billion in funding to more than 270 projects. For more information, visit www.arena.gov.au.