Lightsource BP has finalised the sale of five utility-scale solar farms to Beijing Energy International Australia (BJEI), marking a notable development in the renewable energy sector.
The acquisition, valued at $813 million, encompasses a 1037MWdc solar portfolio, comprising operational projects in Wellington, West Wyalong, and Woolooga, with Wellington North and Wunghnu projects slated to commence operations in the latter half of 2024.
Strategically located across New South Wales, Queensland, and Victoria, these projects are expected to generate an annual output of approximately 2230GWh of clean energy, equivalent to powering more than 380,000 households and preventing the release of over 1,695,000 metric tons of CO2 emissions.
“We will use the proceeds from this sale to accelerate the development of our pipeline across the APAC region, advancing projects in New Zealand, Taiwan, and South Korea, as well as continuing to be a leader in Australia,” Adam Pegg, managing director of Lightsource BP APAC said.
BJEI Australia’s acquisition aligns with the company’s overseas business strategy during the 14th five-year plan, reflecting confidence in the Australian renewable energy market. BJEI has been actively involved in supporting Australia’s energy transition, with this acquisition propelling the company into a new phase of investment and business operations.
Post-acquisition, BJEI Australia’s management, operation, and installed capacity of new energy assets under construction in Australia will surpass 2GW, with the local asset management scale exceeding 3 billion Australian dollars.
According to BJEI, this development marks a significant step in the company’s commitment to advancing renewable energy initiatives in Australia and contributing to the global shift towards sustainable energy solutions.
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