Origin has acquired the large-scale Yarrabee Solar Farm development project, consistent with the company’s strategy to accelerate the growth of renewable energy in its portfolio.
Yarrabee Solar Farm is in south west NSW in the Riverina district. The first stage of the project is expected to comprise 450 MW, with the potential for up to 900 MW under the planning approval obtained from the NSW government in December 2018.
Origin Executive General Manager Energy Supply and Operations, Greg Jarvis said, “Origin aims to lead the energy transition to net zero emissions through cleaner energy and customer solutions, and the acquisition of the Yarrabee Solar Farm development project demonstrates further progress on this ambition.
“We believe the Yarrabee Solar Farm can play an important role in helping Origin provide cleaner energy to our customers, while also reducing emissions from our generation portfolio.
“Our teams will now focus on progressing development activities prior to a final investment decision targeted over the next couple of years, subject to upgrades to the Transgrid transmission network.
“More broadly, the team continues to focus on the multi-gigawatt opportunity to grow renewable energy and storage, through developing greenfield sites or acquiring advanced stage pre-construction renewable projects like Yarrabee,” Mr Jarvis said.
Yarrabee sits within an important part of the Transgrid transmission network, which is targeted for substantial upgrades to facilitate Snowy 2.0 and the South-West Renewable Energy Zone.
Origin recently also acquired the 74 MW Carisbrook Solar Farm in central Victoria, which is targeted to reach commercial operations in 2023, subject to a final investment decision and other required approvals.
Yarrabee Solar Farm was co-developed by Reach Solar Energy and PwC Australia. Reach Solar Energy was also responsible for developing the 220 MW Bungala Solar Farm near Port Augusta in South Australia where Origin is the offtaker of all the power generated by the facility.