The 400-megawatt Stubbo Solar Farm, being developed by ACEN Australia, is to be located approximately 10 kilometres north of Gulgong in the Central-West Orana Renewable Energy Zone (REZ). The proposed solar farm comprises two separated sections and a Battery Energy Storage System of up to 200 megawatt hours.
The project will include an onsite substation and connect to an existing 330 kilovolt transmission line, operated by TransGrid, which will be a REZ transmission line.
Key Dates
| 2018 | Project Announcement |
| Oct 2021 | Expected Construction Commencement |
| Nov 2022 | Construction Commencement |
Financing
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ACEN Australia announced A$750 million of portfolio debt financing of its renewable energy portfolio, including Stage One of the 720-megawatt (MW) New England Solar Farm, and the 400-MW Stubbo Solar Farm. The financing was completed through a syndicate of 11 banks including MUFG, ANZ, SMBC, Westpac, Cathay United Bank, Commonwealth Bank, CTBC Bank, DBS Bank, Deutsche Bank, HSBC, and UOB. |
Procurement
| Procuring Agency: | ACEN Australia |
| Successful Tenderer: | PCL Construction |
| Procurement note: | PCL awarded Engineering Procurement and Construction Contract on 10 January 2023. |
PROJECT HISTORY
| Apr 2020 | The project's proponent issued a Scoping Paper and requested the Secretary's Environmental Assessment Requirements for the project. |
| May 2020 | The NSW Department of Planning, Industry and Environment Secretary's Environmental Assessment Requirements were issued for the preparation of the Environmental Impact Assessment of the project. |
| Dec 2020 | The Environmental Impact Statement was put on public exhibition. |
| Jun 2021 | The NSW Department of Planning, Industry and Environment approved the project's State Significant Development application. |
| Nov 2022 | Key contracts were executed and a final investment decision made, enabling construction commencement on the Stubbo Solar Farm. |
| Jan 2023 | ACEN Australia appointed PCL as EPC contractor and issued a Notice to Proceed. |
| Feb 2023 | ACRI, ACEN's renewable energy subsidiary, and UPC Renewables Asia Pacific Holdings (UPCAPH) signed an Instrument of Transfer for the transfer to ACRI of UPCAPH’s remaining 4,766 ordinary shares in UPC-AC Energy Australia (HK) Limited, which completes the second and final tranche of ACRI’s acquisition of ACEN Australia. The acquisition results in the full ownership by ACEN of the Stubbo solar farm. |
| May 2023 | The project was awarded a new generation Long-Term Energy Service Agreement by AEMO Services under the inaugural tender round for new generation and long-duration storage electricity infrastructure in New South Wales. |
| Apr 2025 | ACEN Australia announced the completion of a A$750 million portfolio debt financing of its renewable energy portfolio, including Stage One of the 720-megawatt (MW) New England Solar Farm, and the 400-MW Stubbo Solar Farm. The financing was completed through a syndicate of 11 banks including MUFG, ANZ, SMBC, Westpac, Cathay United Bank, Commonwealth Bank, CTBC Bank, DBS Bank, Deutsche Bank, HSBC, and UOB. Herbert Smith Freehills was legal adviser for the lenders, with Allens advising ACEN Australia. |
