Energy Estate targets $500 million to accelerate renewable energy growth – pv magazine International
Australian renewable energy developer Energy Estate is seeking to raise more than $500 million to support its development activities and finance the construction of renewable power plants in Australia and New Zealand.
Sydney-based renewable energy company Energy Estate has revealed plans to launch a capital raise of more than $500 million to accelerate the rollout of its development pipeline, which includes large-scale solar PV and wind projects. scale, green hydrogen and pumped hydroelectricity.
Since its inception in 2018, Energy Estate has announced plans to co-develop more than 30 GW of large-scale projects, including solar photovoltaic, long-term energy storage, wind and hydrogen generation.
Among the projects being pursued by the company is the 2 GW Central Queensland Power Project being developed in conjunction with Renewable Energy Systems (RES) approximately 30 kilometers inland from Rockhampton.
Energy Estate said the first stage of development would focus on building the Moah Creek Renewable Energy Project which is to combine 200MW of solar, 400MW of wind and a minimum of 600MWh of energy storage. by battery. The intention is to supply heavy industry in the region, including the Boyne aluminum smelter.
Energy Estate has also partnered with Mirus Wind to develop the Walcha Energy Project near the town of the same name, approximately 55km south of Armidale in New South Wales. The planned 4 GW project would include a 700 MW solar park, a wind component, a 100 MW/150 MWh battery and a pumped hydro plant.
More recently, Energy Estate announced it would partner with Sunshine Hydro to develop a super-hybrid green hydrogen project near Gladstone in central Queensland. Worth up to $5.5 billion, Flavian’s super-hybrid project would include 1.8 GW of wind generation and 600 MW of pumped hydro with 18 hours of storage. The project would also include 300 MW of hydrogen electrolyzers, 50 MW of liquefaction and a 50 MW hydrogen fuel cell.
While most projects are still in the early stages of planning and feasibility, Energy Estate co-founder Vincent Dwyer said the funding round will be used to fund the construction of his platform of projects. in Australia and New Zealand and to accelerate the development of the company. Activities.
“We have now embarked on the next leg of our journey,” he said. “This will result in the large-scale flexible renewable energy portfolio that we are co-developing with our partners providing decarbonized energy, whether in the form of electrons, hydrogen, ammonia or other e-fuels, to local consumers, including heavy industry and in export markets.
“Given the current turmoil in Australia’s energy markets and the importance of decarbonisation across the entire industrial supply chain, including but beyond just low-cost energy, associating from flexible, large-scale renewable portfolios to industrial energy solutions is an important next step in the decarbonization journey.”
Energy Estate engaged Nomura Greentech as financial advisor for the fundraising initiative.
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