CARBON ENERGY STRIKES DEAL FOR SOLAR PROJECT

CARBON ENERGY STRIKES DEAL FOR SOLAR PROJECT

CARBON Energy (ASX:CNX) has partnered with Photon Energy NV to potentially develop a solar power generation plant in Queensland.

The memorandum of understanding will evaluate the feasibility of a large scale plant with up to 20MW capacity, as well as a power storage system at Carbon Energy's Bloodwood Creek site.

The assessment will explore the use of the site's existing underground infrastructure to store energy for use during peak energy periods.

Carbon Energy CEO Morne Engelbrecht says the technology suits the site conditions, with a number of similar projects planned area.

"This is a positive step for the Bloodwood Creek site and will help us realise some of the site's potential, contributing to Queensland's and Australia's growing renewable energy needs," Engelbrecht says.

"With its ideal weather conditions, connection to the grid and supportive infrastructure, the site is well positioned for solar energy production.

"We have found an ideal partner in Photon Energy, given their experience in building and commissioning solar photovoltaic power plants."

Amsterdam-based Photon Energy has established a strong track record of developing solar power plants across the world since 2008. The company also has offices in Bondi Junction and Prague.

Photon Energy Australia managing director Michael Gartner says the project will positively contribute to the state's renewable energy targets.

"This project demonstrates an innovative approach, that not only allows us to utilise the Bloodwood Creek site for renewable energy, but also to potentially develop an innovative new energy storage technology helping Australia meet its renewable energy targets," Gartner says.

"Solar power is an integral part of Queensland reaching its ambitious renewable energy target of 50 per cent renewable energy in the state by 2030."

If the project gets the green light, it will create construction jobs as well as several permanent skilled jobs to maintain the plant over its 25-year life span.

 

Help us deliver quality journalism to you.
As a free and independent news site providing daily updates
during a period of unprecedented challenges for businesses everywhere
we call on your support

Does your pay structure answer today's challenges?
Partner Content
If you are not reassessing how your organisation remunerates and rewards employees as a...
Aon
Advertisement

Related Stories

Seven West buys stake in fintech Raiz for $10 million

Seven West buys stake in fintech Raiz for $10 million

Australian media giant Seven West Media (ASX: SWM) will take a stra...

Shine launches class action against QSuper

Shine launches class action against QSuper

Members of QSuper have filed a class action against the super fund ...

Nic Blair's digital healthcare startup Midnight Health scores $4m investment from nib

Nic Blair's digital healthcare startup Midnight Health scores $4m investment from nib

Health insurer nib (ASX: NHF) has put its weight behind healthcare ...

Reprieve for EML Payments as Irish regulators allow new customers and programs

Reprieve for EML Payments as Irish regulators allow new customers and programs

The dreaded 'Bank of Ireland Update' has become an ominous ...