Ingenious-backed Stellata signs Share Purchase Agreement over largest solar project in Western Australia

Ingenious-backed Stellata has announced today the latest successful milestone in their flagship 100MWAC solar project, Merredin Solar Farm, by signing a Share Purchase Agreement with Risen Energy. The solar project is located in Western Australia’s Wheatbelt , and once operational will be the largest in the state by some margin.

Chinese company, Risen Energy, is one of the largest photovoltaic (PV) module suppliers in the world. The collaboration continues to build momentum for Stellata, with construction of Merredin Solar Farm scheduled to commence in late 2018 and energisation expected in Q3 2019. Stellata will continue to support Risen Energy with the development of the project.

The proposed solar farm will consist of roughly 400,000 single-axis tracking solar PV modules covering an area of roughly 350 hectares across WA’s Central Wheatbelt, with an expected output of 281GWh per annum. On completion of the project, Merredin Solar Farm will be capable of delivering enough energy to power in excess of 42,000 WA homes annually.

Commenting on the agreement, Sebastian Speight, Managing Director at Ingenious Infrastructure said “We are delighted to have reached this milestone and will be supporting Risen Energy into the construction phase at the end of 2018. This is the first project sale that Ingenious Infrastructure has completed outside of the UK and we look forward to replicating this success in the Republic of Ireland and the other international markets where we are currently developing renewable energy assets”.

Commenting on the agreement, Guy Beesley, Managing Director at Stellata Energy said "As a West Australian company our goal has always been to deliver as much renewable energy as possible on to the state’s electricity network. Merredin Solar Farm is an excellent project, ideally located, and will be a major contributor to WA’s renewable generation portfolio. Stellata will be on hand to assist Risen during the construction phase and we look forward to the project being energised in the second half of 2019.”

John Zhong, Project Development and Investment Director at Risen Energy commented “Our first acquisition for the 100 megawatt (AC) Yarranlea Solar Farm in Queensland was completed in early 2018 and construction is underway. Merredin Solar Farm is our second acquisition with the Share Purchase Agreement executed in October 2018.”

Important Information This document is a press release for information only and is not to be distributed to retail clients. Nothing in it constitutes advice to undertake a transaction. Ingenious and Ingenious Infrastructure are trading names of Ingenious Capital Management Limited, which is authorised and regulated by the Financial Conduct Authority. Registration No. 562563.