Renew Estate and Wirsol Energy embark on new development venture
- International renewable energy company, Wirsol Energy, responsible for the UK and Asia Pacific markets within German WIRCON Group has partnered with Australian renewables developer, Renew Estate, to embark on the development of a 1GW+ project pipeline.
- The development of over 400MW of large-scale solar farm projects is already underway, with construction of the first projects targeted to commence in Q1 2018.
- The pipeline will include storage-ready projects, ready for the next-generation of renewables development in Australia.
- The partnership is already looking further afield, identifying several development opportunities across the wider Australia-Pacific region.
- Renew Estate will be supported by Norton Rose Fulbright, global law firm, and Beast Solutions, energy advisory firm.
Sydney, Australia: Surfing the wave of enthusiasm created by their recent entry into the Australian renewables market, International renewable energy company Wirsol Energy (part of the WIRCON Group), has partnered with Australian developer, Renew Estate, to embark on a gigawatt-scale project development pipeline. This news follows an announcement in March heralding Wirsol’s successful acquisition of three new large-scale solar farm projects totaling 198MW, the largest of its kind in Australia to date.
Co-located in the fast-growing Manly renewables tech hub dubbed ‘Solar Beach’, Renew Estate and Wirsol will develop over 1GW in renewables projects over the coming years. Over 400MW of large-scale solar farm projects are already underway and is targeting commencement of construction in Q1 2018. Mark Hogan, Managing Director of Wirsol Energy Limited, expressed his enthusiasm for the new venture. “We are delighted to be working with Renew Estate and want to bring a fresh approach to the development of projects in the Australian market. We have already successfully entered the Australia market with the acquisition of the first large scale portfolio of solar farm projects (200MW in QLD and VIC). We have delivered over 1 gigawatts of innovative solar projects in Europe and are now committed to developing a portfolio across Australia”.
The name Renew Estate reflects the partners’ shared goal to deliver projects which meet the expectations of all stakeholders.
Simon Currie, Global Head of Energy at Norton Rose Fulbright comments “Dramatic falls in the cost of solar and wind energy and storage technologies mean we can now plan for a zero carbon future with affordable, reliable and sustainable energy. The renewable energy industry should look for opportunities to regenerate and repurpose existing hubs like Port Augusta and the La Trobe and Hunter Valleys. This is an innovative partnership which will deliver future-ready projects incorporating storage and enhancing the reliability of the system.”
Renew Estate Director, Byron Serjeantson, echoes the importance of future-ready projects, emphasising that “Great renewables projects will benefit all stakeholders; starting with the community and landowners, local government and industry and all Australians, who ultimately benefit from a cleaner and cheaper source of energy. By bringing together the right team and working hard at what we do, we aim to be a key contributor to a strong and well-regarded renewables industry of the future.”
Looking beyond their development pipeline in Australia, Renew Estate has identified a number development opportunities across the Australia-Pacific region, with projects in Fiji and New Zealand s showing particular promise. “Watch this space” says Serjeantson.