Epuron and SunPower have partnered to quadruple the size of the Uterne solar power plant, and the expansion is expected to be completed in 2015. Financing from the Clean Energy Finance Corporation (CEFC) will fund the expansion, increasing the size of Uterne from 1 MW to 4.1 MW.
"Uterne has proven to be a valuable part of our solar energy portfolio which will increase in size to over 5 MW of operational capacity," said Epuron Executive Director Andrew Durran. "Adding capacity with SunPower technology ensures that the plant will continue to deliver predictable, emissions-free electricity over the long term."
SunPower has been contracted to design and build the 3.1-MW expansion of Uterne with high-efficiency SunPower solar panels mounted on SunPower® T0 Trackers. The additional 3.1 MW of T0 Trackers will be installed on 3 hectares, adjacent to the 1-MW solar power plant, which features SunPower® T20 Trackers currently installed and operating on 3 hectares.
"Epuron's decision to expand Uterne in the Northern Territory proves that solar is a reliable and cost-competitive substitute for conventional energy sources such as diesel and gas," said Howard Wenger, SunPower president, regions. "By providing long-term operations and management services, SunPower will help ensure Uterne continues to meet or exceed production expectations over the project's lifetime, leveraging our global experience deploying and operating more than 1,000 MWs of utility-scale solar power systems."
CEFC is providing a $13 million loan to Epuron for Uterne's expansion, which uses a financing structure that is rare for deals of this size. It is expected to drive down transaction costs and help make projects like this more attractive to commercial financing institutions.
Standing behind Uterne since the 1-MW solar power plant was commissioned by SunPower in June 2011 as part of the Alice Solar City program, is a long-term power purchase agreement offered by the Northern Territory's Power and Water Corporation (PWC). PWC will also purchase the clean electricity produced by the 3.1-MW expansion.
Epuron acquired the initial 1-MW Uterne in October 2012 from SunPower after SunPower developed and constructed the solar power plant. SunPower has had a footprint in Australia since 2008, designing and installing systems for utility and commercial customers like Horizon Power, Watershed Premium Wines and Perth Zoo, as well as residential customers across the country. The company has an office in Melbourne and a presence in every mainland state.
Each partner's obligations under the partnership, as well as project financing and project completion, are subject to terms of the related agreements, including customary closing conditions.