Japanese companies invest in Queensland solar
Japan-based oil trader ENEOS Corporation will partner with Sojitz to build a large-scale solar power generation business in southwest Queensland.
ENEOS acquired 100 percent of the shares of Edenvale Solar Park, which will operate the plant spread across 248ha, through Sapphire Energy.
Sapphire Energy is a joint venture with another Japanese based company Sojitz Corporation which has other interests in Queensland.
Construction began this month, the company said in a statement.
This will be the first time ENEOS has developed a solar power generation business in Australia and will be the largest solar power plant for the company, with a module capacity of 204 MW.
An offtake agreement for 70 per cent of the power generated at the plant had been negotiated with a ‘local electricity retailer’ at a fixed price, the company said. This is in line with the Queensland government’s zero emissions target for by 2050.
The State Government said the remaining 30 percent will be sold to the Sojitz-owned Gregory Crinum mine.
The company, among Japan’s largest oil traders, has a stated aim of carbon neutral emissions by 2040.
The Edenvale site is located about 300km west of Brisbane in the Western Downs Shire on the Condamine-Kogan Road south of Chinchilla off the Warrego Highway.
ENEOS said it was also ‘striving to establish a supply chain for CO2-free hydrogen in Australia.
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