DNV has provided technical due diligence services to Mytilineos for its Munna Creek solar project, which achieved financial close in December and is located in Queensland.
Upon completion, the Munna Creek solar farm will have an installed capacity of 150MWp and will generate approximately 300GWh of green energy annually.
Telstra and National Broadband are the main offtakers for the power generated from the plant.
The anticipated sustainable energy production from the solar farm is projected to offset around 200,000 tonnes of carbon dioxide emissions annually.
As the independent advisor, DNV contributed to ensuring the project’s bankability and compliance with industry standards.
The technical due diligence covered assessments of the site, plant design, environmental permits, grid connection and access, supplier contracts, energy yields and a review of the Equator Principles to ensure that the project adheres to socially responsible and environmentally sound practices.
Mytilineos project finance director in its renewables division, Matthew Tilbrook said: “With the solar capacity this plant will be adding to the grid, Mytilineos will help support the Australian government’s target of 82% renewable energy by 2030.
“DNV has been instrumental in assessing the feasibility of this project and providing the in-depth analysis required by lenders.
“We take comfort in the assurance that DNV’s guidance will not only contribute to the successful implementation of the Munna Creek solar farm but also positively impact the communities we are dedicated to serving.”