Edify completes funding for solar projects following investment from BlackRock

By Thierry Boudan

Renewable energy company Edify has announced that it has successfully sourced the financing required to undertake the construction and operation of two solar farms in North Queensland, Australia.

The funding has come from US based fund management specialist BlackRock. The investment marks the firm’s first time foray into the Australian renewable energy market with its 90% interest in the solar farms that combined will cover 590 hectares, with Edify retaining the remaining 10%.

See Also:

“We are delighted to have closed another large utility scale solar PV financing transaction and to be a significant contributor to the renewable energy market in Australia,” said Edify Energy Chief Executive, John Cole.

“Partnering with BlackRock Real Assets, and their first investment into the Australian renewable energy market, is a real coup for Edify and is a major step forward towards mainstreaming solar renewable power in Australia.

“With a pipeline of projects under development, we look forward to playing a meaningful part in the decarbonisation of the Australian energy sector.”

The building of both farms is set to commence in September of this year, with expectations that the combined energy generated from the projects will be enough to power 73,000 homes.

“We are very pleased to continue our strong relationship with Edify Energy to deliver these two large-scale solar energy projects generating a combined 240MWp,” said RCR Tomlinson CEO Paul Dalgleish, with the company having been entrusted with the construction.

The successful financing and planned works marks a significant step in the sustainability of region that is more well renowned for its mining and coal projects. 

Share

Featured Articles

The world’s biggest chipmaker bets big on renewable energy

Despite the struggle faced by chipmakers to reduce emissions, Taiwan Semiconductor Manufacturing is accelerating renewable energy adoption by 10 years

Uniqlo shakes up leadership amid global retail ambitions

Fast Retailing, the group behind Japan’s Uniqlo, overtakes Gap with soaring profits and is now eyeing accelerated global expansion with executive shakeup

What is the ESG strategy of Chinese automaker Geely Holding?

Chinese automotive giant Geely Holding released its 2022 sustainability report, so what is the car maker’s ESG strategy?

Top 10 best-performing CEOs in Singapore

Leadership & Strategy

Top 10 women behind India’s most successful tech startups

Leadership & Strategy

Top 10 best private members clubs in Singapore and Hong Kong

Leadership & Strategy