Mt Majura solar farm takes ACT one step closer to 100% renewables

Mt Majura solar farm takes ACT one step closer to 100% renewables

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The 2.3MW Mt Majura solar farm – the first asset of the Ross Garnaut-chaired $100m IIG Solar Income Fund – has been launched in ACT.

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The 2.3MW Mount Majura Solar Farm has been officially opened in the ACT on Thursday morning, marking the launch of yet another contributor to the Territory’s 100 per cent renewable energy target.

The project, developed by Solar Choice 15km north-east of Canberra, features single-axis tracking technology that allows the 7,340 panels to adjust their tilt and orientation throughout the day, potentially improving the PV system’s output by up to 40 per cent compared to a fixed-tilt system.

Mt Majura solar farm during development. Source: Solar Choice

Once completed, it will be owned and operated by Impact Investment Group’s IIG Solar Income Fund, marking the first acquisition of the $100 million renewable energy investment fund headed up by former Pacific Hydro chief Lane Crockett and chaired by Ross Garnaut.

Launched in July, the IIIG fund aims to use investments like Majura to deliver investors stable, long-term cash returns, with a targeted return of around 10 per cent, while also supporting Australia’s renewables sector at what Garnaut has described as a “crucial time.”

According to economic analysis, IIG’s solar fund is expected to deliver about 270 jobs during construction, and around $57 million in savings from health and environmental costs associated with fossil fuels.

It also expects to power the equivalent of 9,000 homes over its life, abating 48,000 tonnes of carbon dioxide annually. Prominent investors in the Fund include ethical super fund Future Super as well as high net wealth individuals and family groups.

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Co-developers (left to right) Chris McGrath and Stefan Jarnason from Solar Fields, Kevin Heydt from Solar Finance Solutions, Angus Gemmell of Solar Choice

“We are very proud to see official kick-off of our first solar energy asset, the Mount Majura Solar Farm,” said Impact Investment Group CEO Chris Lock.

“The Solar Farm will contribute to the ACT’s 100 per cent renewable energy target providing 4,300 MWh/year which equates to supplying electricity for about 615 Canberra homes,” he said.

Lock also noted that the Mt Majura opening could not have been achieved without the leadership of the ACT Government, which he said provided a “great example of how … leadership can catalyse and attract private capital to the renewables sector.”

As ACT Chief Minister Andrew Barr noted at the launch on Thursday, the Territory has 640MW of renewable energy already contracted towards its 100 per cent renewable energy target.

“With innovations like solar and battery storage, new energy efficient devices and even more competition between energy retailers, Canberrans have never had more choice and control over their energy usage,” Barr said.

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  1. MaxG 4 years ago

    It is about time the Prime Minister has crisis talks about energy security for the capital city… (LNP) what a bunch of criminals to humanity.

  2. Lightfoot 4 years ago

    You wont get a 40% production increase from single axis tracking. The figures from Moree Solar farm were more like 20 – 25% increase.
    Single Axis by its very definition, will not change both tilt and orientation, that would require dual axis tracking, like a portion of Gatton Solar farm. These East-West trackers change tilt, and if it is Nextracker technology, which it certainly looks like, it can move up to 60 degrees in each direction from the horizontal.

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