MPower doubles its money on one of Australia’s oldest solar and battery projects
“In the first 12 months of operation under MPower’s control, the project has generated approximately 18GWh of clean energy and earned revenues of approximately $1.7 million,” the company said.
All of its output is contracted to Origin Energy under a long-term Power Purchase Agreement that lasts until 2030. The revenue number and the output suggests a contract price of around $94/MWh.
MPower hopes to roll out more similarly-sized solar and battery projects in the coming year, starting with a project at Narromine, and is also on the lookout for acquisitions like Lakeland.
It has a number of projects in NSW and South Australia, and recently bought a “shovel ready” project at Faraday in Victoria.