- Hydro Tasmania signed a PPA to offtake electricity from the 288-MW Northern Midlands Solar Farm, expected to go live in 2027.
- The AUD 500 million project, owned by TasRex, will include 670,000 PV panels and a battery system, which will power about 70,000 homes.
- The project supports Tasmania’s goal of 200% renewable energy by 2040, creating jobs and boosting the local economy.
Hydro Tasmania signed a power purchase agreement (PPA) to offtake electricity from Tasmania’s largest photovoltaic (PV) farm. TasRex owns the 288-MW solar project, which will cost AUD 500 million (USD 325 million) and go live in 2027.
The PPA allows Hydro Tasmania to buy the entire output of the Northern Midlands Solar Farm. The project includes 670,000 PV panels and a battery energy storage system (BESS). The solar farm will produce enough electricity to power 70,000 homes.
Tasmania aims to generate 200% of its energy from renewable sources by 2040. To support this, the project also involves building a 220-kV transmission line to deliver the electricity.
The Northern Midlands Solar Farm, located 35 km southwest of Launceston in Cressy, will use existing farmland for the installation. Once completed, it will hold the title of Tasmania’s largest solar farm.
Hydro Tasmania’s acting CEO, Erin van Maanen, emphasized the deal’s significance, giving TasRex the confidence to move forward. “The agreement brings a major new renewable energy source to power homes and businesses across Tasmania,” van Maanen said.
Tasmania continues accelerating its transition to renewable energy, with this project playing a crucial role. The state targets a 200% increase in renewable generation by 2040, and the Northern Midlands Solar Farm will contribute significantly to reaching that goal.
Investors are responding to the growing demand for renewable energy across Australia. As Tasmania moves toward clean energy, large projects like the Northern Midlands Solar Farm will help meet rising energy needs and reduce dependence on fossil fuels.
Solar farms will also benefit the local economy. The construction phase promises job creation and economic boosts for the surrounding community. After completion, the project will help stabilize electricity prices by diversifying Tasmania’s energy sources.
TasRex remains committed to renewable energy projects that align with Tasmania’s clean energy goals. The company expressed optimism about the solar farm’s long-term benefits for the local region and the state.
Tasmania continues to advance its renewable energy agenda, ensuring the state stays on track to meet ambitious targets. The PPA provides a stable revenue stream for TasRex, allowing the company to proceed with construction and development.
(AUD 1.0 = USD 0.650/EUR 0.618)