Enel Green Power Australia (EGPA), a joint venture company co-owned by Enel Green Power and INPEX Renewable Energy Australia, announced the acquisition of the Tallawang hybrid project, which comprises 500 MW of solar PV and 500 MW/1,000 MWh energy storage system. EGPA acquired the solar-plus-storage project from RES, a U.K.-based renewable energy project developer.
The Tallawang hybrid project is located in the New South Wales Government-designated Central-West Orana Renewable Energy Zone, approximately 8 km northwest of Gulgong in the Mid-West Regional Council area. It is strategically close to key transmission infrastructure.
EGPA Chief Executive Officer Werther Esposito said, “Tallawang is a large-scale and advanced development project, with outstanding resources and key planning and regulatory approvals that have progressed well. EGPA is accelerating the build-out of a portfolio of renewable and storage projects at varying stages of development. We appreciate the support from our shareholders in achieving this significant acquisition.”
Last month, EGPA secured project financing of over A$190 million (~$126 million) to develop the Quorn Park Hybrid Project, which includes a 98 MW solar project and a 20 MW/40 MWh battery energy storage system (BESS). The funding will be used to develop and construct the hybrid project located approximately 10 km northwest of Parkes, New South Wales, Australia.
According to Mercom’s 1H and Q2 2024 Solar Funding and M&A report, 113 solar project acquisitions totaling 18.5 GW were transacted in 1H 2024, compared to 116 project acquisitions totaling 25.5 GW in 1H 2023.
Earlier this month, Actis’ SE Asia Renewables Platform Levanta Renewables, a renewable energy project developer and independent power producer, announced the acquisition of a 90% controlling shareholding in Thailand’s 139.4 MW operating solar project portfolio. The company acquired the portfolio from Super Energy, a Thai renewable energy project developer, and its subsidiary, Super Energy Group.
