CEFC commits to new solar farm as Australia ramps up its transition to net zero by 2050
Summary
The initiative aims for solar PV to achieve 30 per cent efficiency at 30 cents per installed watt by 2030 and will help drive down costs to meet the goal of solar electricity generation at $15 per MWh.CEFC CEO Ian Learmonth said: This latest renewable energy investment demonstrates that CEFC expertise and capital is central to the ongoing evolution of the sector. Weve met the financial challenge of backing early developments, while delivering substantial investment and jobs to regional Australia. This latest innovation means the smaller cells produce half the current, reducing power loss and improving efficiency to produce more energy.X-Elio estimates about 400 regional jobs will be created during construction, which is expected to be completed in 2022.A corporate power purchase agreement with US tech giant Salesforce will see it purchase 25 per cent of the Blue Grass output, contributing to its commitment to reach 100 percent renewable energy by 2022. In Phase 1 of AEMOs 2020 Integrated System Plan, projects like this are being developed to take advantage of the existing spare network capacity to contribute towards Queenslands ambitions to achieve 50 per cent renewable energy generation by 2030.X-ELIO is a leading company specialised in the development, construction, financing and operation of photovoltaic plants with global presence in Europe, United States, Latin America, Japan and Australia. The group is a global leader in renewable and sustainable energy, with a strong commitment to the reduction of greenhouse gases and the fight against climate change.