Epuron has acquired the 1MW Uterne solar power plant operating in Alice Springs, Australia. Project financing for the acquisition came from Commonwealth Bank, making it the country's first major bank to support a solar project of this size.
The Uterne project was developed by SunPower Corp with funding assistance from the Australian Government as part of its Solar Cities programme and with the support of Power and Water Corporation. Under a 20-year power purchase agreement, Power and Water Corporation will buy electricity generated from the plant at a guaranteed rate. Following the acquisition, SunPower will continue to provide operations and maintenance services in conjunction with Ogden Power, a SunPower accredited solar company based in Alice Springs.
“This solar power plant has exceeded reliability and energy production expectations since it was commissioned in June 2011, and will reliably generate power and return on investment for the life of the system” said Howard Wenger, SunPower’s president.
Andrew Durran, Epuron’s Executive Director described the acquisition as “a first for a project of this size in Australia.” He added: “The project is a great addition to our 1MW remote TKLN Solar project, making Epuron one of the largest solar project owners and asset managers in Australia.”
Uterne is comprised of high efficiency SunPower solar panels installed on the SunPower® T20 Tracker, which positions panels to follow the sun during the day, increasing daily energy production by up to 30% over conventional fixed-tilt installations.