Alternative Fuels

Enel to invest $157 million in Australian solar PV project

A joint venture between Enel’s renewable energy subsidiary Enel Green Power and investment firm Dutch Infrastructure Fund has signed an agreement to acquire Bungala Solar One.
By Staff reporter 10 April 2017 0 25436

A joint venture between Enel’s renewable energy subsidiary Enel Green Power and investment firm Dutch Infrastructure Fund has signed an agreement to acquire Bungala Solar One, the first 137.5 MW phase of the 275 MW Bungala Solar PV project in Australia.

The agreement was signed with current owner Bungala Solar Holding, a subsidiary of Australian developer Reach Solar Energy. The purchase of the second phase is expected to be closed in the third quarter of this year.

Total investment in the project will be around $315 million,...