Denzo and Natcore to develop 30-MW project in Queensland
Written By: Stratton Report
October 17, 2016
On October 17, Denzo Group Australia announced that it had selected a site for the 30-MW solar project it intends to develop with its joint venture partner Natcore Technology, a solar R&D company. Natcore and Denzo will each participate in a portion of the power purchase agreement.
The 90 hectare site is in Queensland, Australia. The project will be developed as three 10 MW modules, and will involve energy storage as well.
In 2014, the partners announced a joint venture that would produce solar cells and solar panels in Australia.
Regarding the project, Denzo will coordinate the purchase of the land, obtrain all of the required approvals and the designation of the facility to be recognised as a Solar Power Station and arrange the connection to an approved substation to export the electricity to the grid.
Jointly Natcore and Denzo hope to obtain a better than usual ROI over a 30 year tenure.
Ken Mathews, Managing Director of Denzo remarked:
“Queensland is known to be an excellent environment for solar energy. The Queensland Government has released a plan to have a target of 50% Renewable Energy by 2030, hence the opportunity for high growth.”
Natcore President and CEO Chuck Provini observed: “This project will place Natcore at the forefront of the Asia Pacific Area for Renewable Energy. Both parties look forward to the signing of the subject