Engie secures all funds to build 250-MW solar farm in Victoria

French power utility Engie SA (EPA:ENGI) has achieved financial close on a 250-MW solar project in Victoria, supporting its goal to deliver 3 GW of renewable energy capacity in Australia by 2030.

A notice to proceed to full construction is set to be given in the next few months, Engie Australia said on Friday. In a separate statement, German lender Deutsche Bank said it has a closed an AUD-348-million (USD 231m/EUR 210.2m) debt and bank guarantee facility for the project.

The Goorambat East Solar Farm will be installed near the towns of Goorambat and Benalla in northern Victoria and is expected to generate enough electricity to meet the power demand of about 105,000 average Victorian homes. The plant will connect to a newly built Goorambat East Terminal Station and is scheduled to go live in 2026.

Engie has signed landholder agreements and early construction works are already underway. Bouygues Construction Australia and Equans Solar & Storage will serve as engineering, procurement and construction (EPC) contractors. AusNet is the connection services provider.

(AUD 1.0 = USD 0.664/EUR 0.604)

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