Singapore-based Equis Energy to invest $300m in two solar plants in Australia

Solar Panels. Photo: Mint

Equis Energy said on Wednesday it plans to build two solar power plants for A$400 million ($303 million) in Australia, marking the Singapore-based renewable energy developer’s first investments in the country.

The two 100-megawatt solar plants would be in South Australia and Queensland, moving the country a step closer toward the federal government’s target for at least 20 percent of nationwide power to come from renewable energy by 2020.

The South Australian plant, Tailem Bend, would be built next to a diesel-fired power station owned by Snowy Hydro, which had agreed to buy all the power from the solar plant, Equis said. Construction was due to begin in early 2017, it added.

“By developing the Tailem Bend Solar Project and Snowy Hydro diesel projects together, the combined system will have the capability of providing stable power any time of the day across the entire year,” Equis Group Chief Executive David Russell said in a statement.

The second solar plant would be built in Collinsville North, where construction would also begin this year.

Equis said it had also secured land rights that would allow it to build a further 1,000 MW of large scale solar projects, which it aimed to build “over the near term”.

The company, founded by bankers who worked for Macquarie Group’s Korea infrastructure fund, said it had completed 33 utility scale renewable energy projects in Asia over the past three years.

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Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.