We are pleased to announce the launch of a joint venture with Stellata Energy (‘Stellata’), the Australian solar energy developer, with the shared ambition of bolstering solar energy generation across Australia. The partnership commits to funding a pipeline of solar farms across the country, with a value in excess of AUD $200 million, including a flagship 120MW ground-mounted project.
The funding is timely as the Australian Government’s federal renewable energy target seeks to double the current capacity of large-scale renewable energy to 33,000 GWh by 2020; in-turn fuelling the potential for privately supported investment opportunities in this sector.
The team at Stellata is well placed to succeed in bringing large-scale solar energy to Western Australia, having successfully developed over 600MW of ground-mounted and rooftop solar across Europe. Through the partnership, Stellata’s resource and capacity will be boosted by Ingenious’ dedicated team of investment professionals, which has raised and deployed over £9 billion, including £500 million in renewables projects across the UK and Ireland.
Commenting on the venture, Troy Santen, Director, Stellata said: “As a West Australian company, we are very excited to be partnering with Ingenious in our quest to bring utility scale solar power to our state. Our collaboration will drive forward the development of solar PV projects, as well as the creation of jobs in local communities.”
Sebastian Speight, Managing Director, Ingenious Infrastructure agreed: “Ingenious has worked closely with the team at Stellata on previous ventures and their track record of delivering high quality solar projects is testament to their knowledge and expertise in this sector. Australia has huge potential to benefit from solar energy, due to its geographical positioning and high levels of irradiation, and we are confident that Stellata can fully capture the rewards this technology can offer.”