Green light for Australia’s largest community-owned solar farm
Canberra will soon host Australia’s largest community-owned solar farm.
The ACT Government has given the green light to community solar company, SolarShare, to build its flagship 1 MW solar farm in the Majura Valley.
The ACT Government’s approval of SolarShare’s application for a feed-in tariff means SolarShare can sell to a participant in the wholesale energy market and earn 19.5 cents per kilowatt-hour. This rate is guaranteed for 20 years, providing long-term stability for the flagship renewable energy project. Construction will begin in the third quarter of 2019.
“We’re excited to be part of Canberra’s renewable energy future, helping power the Bush Capital’s plan to run on 100 per cent clean energy by 2020” said SolarShare’s Principal Executive Officer, Lawrence Macintosh.
“I thank the 800+ individuals who have signed up to becoming investors in this project. The huge interest we’ve seen goes to show just how enthusiastic Canberrans are about investing in clean community-owned energy.”
SolarShare allows ACT residents to purchase shares in the solar farm and receive a financial return on their investment when energy is sold to Canberra’s power grid. Anyone who may have difficulty getting their own residential solar panels, including those renting, living in apartments, or with limited finances, can support and profit from solar panels through SolarShare.
Once complete, SolarShare’s flagship solar farm will generate enough clean energy to power 260 homes, preventing some 1,700 tonnes of CO₂ a year from polluting the atmosphere.
“This is just the start”, said Lawrence McIntosh. “After SolarShare’s flagship project in the Majura Valley, our vision is to have a string of solar projects, opening the investment pool to more people. We work with owners of large rooftops as well as land. SolarShare can offer to install solar panels for free and sell you cost effective clean energy.”
With the feed-in tariff approval, things are moving quickly on the flagship project and SolarShare will close registration for investors in the near future.
“We’re opening our investment round on Friday 14th December, welcoming ACT residents to become part owners of Australia’s largest community solar farm.” continued Lawrence Macintosh.
To register your interest as an investor, visit SolarShare’s website, www.solarshare.com.au. For more information, contact info@solarshare.com.au.
For media interviews, please contact:
Primary contact: Lawrence McIntosh, SolarShare Principal Executive Officer, on 0400 476 759 or lawrence@solarshare.com.au, or
Secondary contact: Michelle McCann, SolarShare Acting Chairperson, on 0401 574999.
