11.04.2017| PV Tech
Enel announced Monday that it has closed an agreement to acquire Bungala Solar One — the 137.5MW phase of the 275 MW Bungala Solar PV project — from Bungala Solar Holding Pty Ltd., a subsidiary of Australian developer Reach Solar Energy Pty Ltd.
The project is currently tabbed as the largest ready-to-build solar project in Australia
The joint venture’s total investment in the 275MW installation is around US$315 million dollars — which entails project construction, with Enel providing around US$157 million dollars.
Construction at Bungala Solar One is expected to begin by mid-2017, followed by Bungala Solar Two — with construction slated to start by the end of 2017. The total installation is expected to be completed and operational by the third quarter of 2018.