Spark Infrastructure has acquired 100 percent interest of Bomen Solar Farm, NSW.
The solar farm spans 250 hectares and is expected to generate an annual $13.5 million for the first five years.
Spark Infrastructure operates on acquiring low-carbon-emission energy assets. CEO Rick Francis says the company is committed to investing in Australia’s renewable energy future.
“Whilst modest, it is a logical and prudent first step in diversifying our exposure to regulated assets and accesses growth in adjacent essential service infrastructure in line with our investment strategy,” he said.
Construction later this quarter will begin to connect the solar farm to electrical company Transgrid’s transmission network.
Total construction cost is projected at $188 million and is located 10km north-east of Wagga Wagga.
Commercial operations are estimated to commence in the second quarter of 2020.
Spark currently owns interests in $17.1 billion of electric network assets across Australia.
The company delivers electricity to over 5.6 million customers across NSW, QLD, VIC and the ACT.