Origin looks to sell solar project before it's built

ORIGIN Energy has confirmed it is looking for someone else to invest in its Darling Downs Solar project, before it's even built.

The CSG giant, who launched the project early last year, is looking for an investor to enter into a long-term power purchase agreement'.

While Origin officially only spoke in vague terms about the proposal, a source close to the project said the company was already fielding interest from a number of potential backers.

"Origin is exploring a range of funding options to support the development of the Darling Downs Solar Farm," a spokesman said.

"Darling Downs Solar Farm is one of Australia's largest solar projects and will provide Origin a significant new source of renewable energy for our customers."

Reports suggested any potential backer would have to invest $30 million to $50 million into the project.

The Darling Downs Solar Project, which will be based 45km outside Dalby, is expected to cost $216 million and will produce 107 megawatts of power when finished.

Bank of America Merrill Lynch will run the sale.

Origin received also more than $20 million in federal funding from the Australian Renewable Energy Agency last year.



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