London-based venture capital firm Octopus Investments and Australian renewable energy development and storage investment company Edify Energy will build the Darlington Point solar project in New South Wales with A$450 million ($324 million) investment.
Edify Energy said that the solar project will enter the construction stage shortly. The new solar park, which will have a capacity of 275 megawatts (MW) or 333 MW in direct current, will be constructed at Darlington Point, close to Griffith.
Once up and running in early 2020, the solar plant will be generating some 685,000 megawatt-hours of electricity per year.
Approximately 55 percent of the plant’s output will be sold to Australian electricity generation company Delta Electricity.