2017 will represent a “transformational” year for solar farm development in Australia, with over 20 projects likely to reach financial close. While the 12 ARENA supported projects are likely to be the first to lock in funding, an additional pipeline of projects is set to attract overseas and domestic investors.

AGL Energy is set to begin construction on its 200MW Silverton wind farm in western New South Wales after agreement was reached on the terms of the project’s sale to the Powering Australian Renewables Fund, the first greenfield project of its kind to be acquired by the joint venture fund.

The capital intensity per watt of the utility scale solar plants in the current development pipeline in Australia is about half that of those that are already operational.

French energy giant ENGIE, the owner of the soon-to-be-closed 1,500MW Hazelwood brown coal generator in Victoria, has called for proposals for large scale solar projects in Australia.