7 September 2018: Genex Power Limited announce to the ASX that Genex and Vast Solar Pty Ltd have entered into a Sale and Purchase Agreement for the acquisition of the 50MWAC Jemalong Solar Project development (JSP or Project), located near Forbes in the central west region of NSW (the Acquisition).
August 2018: Vast Solar Pty Ltd is pleased to announce that its Jemalong 60MW(DC) Solar Photovoltaic (PV) Project has been approved and is now offered for sale.
Craig Wood, Vast Solar CEO, said “As developers of the Jemalong Solar PV Project we are very pleased to have received planning approval and are now offering the project for sale. It is an exciting opportunity for leading renewable energy companies to invest in and to build the plant to deliver power into the Forbes network”.
Vast Solar is working in association with Energy Estate to seek offers from investors to purchase 100% of the Project.
The attractively sized, single axis tracking project is located near Forbes in the Central West of NSW. The target date for operations is July 2019, meaning it will qualify for Large-scale Generation Certificates (LGCs) and access high forecast power and LGC prices.
The NSW energy market is currently underserved by PV projects and is better insulated from mid-term price and curtailment challenges than other states, making the Project a highly desirable investment. The Project offers investors the chance to obtain a well advanced project with the necessary land agreements and planning approvals in place and connection to the grid with Essential Energy close to hand.
In NSW as elsewhere, corporate awareness of wholesale electricity price risk is rising, creating increased demand for solar power purchase agreements (PPAs). The Project is already attracting strong interest from corporate off takers and has been shortlisted in recent high-profile PPA processes.
“The Jemalong Solar Project has been developed as part of our overall corporate development plan for Vast Solar and the commercialisation of our CSP technology. The Project is commercially significant to us and it has been a valuable technological and regulatory learning journey for our team. In time, this knowledge will be integral to enabling solar PV and CSP plants to share infrastructure to deliver dispatchable power from renewable energy sources 24 hours a day” Mr Wood said.
Project Update – 2018
- The EIS for the Jemalong Solar Plant was on Public Exhibition from November 21 2017 for one month
- Feedback was received and a Response to Submissions Report was submitted by Vast Solar to the Department of Environment and Planning in February 2018
- The EIS and the Response to Submissions Report can be accessed via the Department’s major projects website
- On May 18 2018, the Jemalong Solar Plant project was approved
- Relevant documentation including the EIS, general layout of the development and statutory approvals for the development may be found at:
- On 27 July 2018 a minor modification, relating to the PV project site subdivision was granted. Further information at:
- In December 2020, the plant was energised.