October 9 (Solar) – The Northern Territory’s government has approved the 25-MW Katherine solar park project proposed by Australian developer Epuron Pty Ltd and UK firm Island Green Power.
Throught Katherine Solar Pty Ltd, the partners have signed a power purchase agreement (PPA) with state-owned utility Jacana Energy and now gear to start building the plant in the coming months, the government announced on Monday. The AUD-40-million (USD 28.3m/EUR 24.6m) project has already gained development permit from the Territory government.
The solar plant will be installed on private-owned land near the town of Katherine, with its construction expected to open more than 100 jobs.
The project and its PPA were approved as part of the government’s efforts to reach a 50% renewables share by 2030. The target is backed by newly-announced electricity market reforms that include the creation of a competitive wholesale electricity market – to be called the Northern Territory Electricity Market (NTEM). The market is expected to be launched within 12 months.
Meanwhile, the local government will also start a review of solar feed-in tariffs (FiTs) so as to encourage owners of residential solar systems to add battery storage to their facilities and stimulate “greater take-up” of energy efficient technologies.
(AUD 1.0 = USD 0.707/EUR 0.616)