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Italian Economic Diplomacy 21 April: world breaking news

Australia: Enel makes its debut in the Country with the largest photovoltaic project

Enel has announced its debut on the Australian market with the acquisition of the Country’s largest photovoltaic project. The Italian energy giant, through its affiliate Enel Green Power in joint venture with Dutch Infrastructure Fund, a Dutch infrastructure fund specialised in the sector, signed an agreement for the construction of the first part (137.5 MW) of the Bungala Solar farm in South Australia. The agreement for lot two of the project is expected for the third quarter of 2017.

The Italian group will contribute to the construction of the 315-million-dollar photovoltaic project that is scheduled to become operational in 2018 with approximately 157 million dollars (148 million euros). Once it is completed, the mega-project will have a power production capacity of 570 GW a year. The Bungala Solar project is supported by a long-term energy supply agreement with the Australian utility Origin Energy.