(BRIEF) DNV provided significant technical due diligence to MYTILINEOS, enabling the successful monetary close of the Munna Creek Solar Project in Queensland, Australia. With an installed capacity of 150 MWp and major buyers such as Telstra and National Broadband, the solar park is set to generate around three hundred GWh of green energy per year, offsetting around 200,000 tonnes of carbon dioxide emissions. DNV’s independent assessment ensured the project’s viability and compliance with industry standards, reinforcing MYTILINEOS’ commitment to contributing to Australia’s renewable energy goals and driving sustainable energy practices.
(PRESS RELEASE) BÆRUM, March 14, 2024 — /EuropaWire/ — DNV has provided technical due diligence to MYTILINEOS, an energy and trading company. MYTILINEOS’ Munna Creek solar allotment achieved monetary close in December and is located in Queensland.
Once completed, the Munna Creek Solar Park will have an installed capacity of 150 MWp and will produce approximately three hundred GWh of green energy per year. Telstra and National Broadband are the main buyers of the electricity produced through the plant. The solar park’s energy production is expected to offset around 200,000 tonnes of carbon dioxide emissions per year.
As an independent advisor, DNV helped ensure the bankability of the task and compliance with industry standards. Technical due diligence covered assessments, plant design, environmental permitting, grid connection and access, supplier contracts, energy yields, and a review of Ecuador’s principles to ensure task adheres to socially culpable and environmentally culpable practices.
“With the solar capacity that this plant will load to the grid, MYTILINEOS will contribute to the Australian government’s target of 82% renewable energy by 2030,” said Matthew Tilbrook, director of project finance in MYTILINEOS’ Renewables Division. “DNV was instrumental in assessing the feasibility of this task and delivering the required in-depth research through lenders. We are confident that DNV’s recommendation will not only contribute to the successful implementation of the Munna Creek solar farm, but will also have a positive effect. in the communities we are committed to serving. “
“We are proud to have conducted this technical due diligence for MYTILINEOS and to have contributed to the financial close of the assignment. While we leveraged DNV’s extensive global experience to complete this review, the allocation will be controlled through our local Melbourne-based renewable energy engineering team,” said Matthew Forwood, National Director of Power Systems for Australia and New Zealand at DNV. “DNV has been active in the Australian market for many years and has conducted numerous pre-technical examinations at all stages of allocation progression and execution. We have highly evolved processes that facilitate a transparent assessment of assignment hazards and enable you to make sound decisions with confidence. We look forward to participating as a technical advisor on more solar allocations as demand for blank power continues to grow in Australia. “
Although the electric power levelling load (LCOE) of solar PV is already more competitive than that of fossil fuel generation, it is expected to surpass the $30/MWh mark by 2030. From 2030 to 2050, the LCOE will continue to increase. decreased by 1. 5% compared to the previous year, reaching its lowest level of 22 USD/MWh, according to DNV’s latest Energy Transition Outlook report.
“Today, many investors need to ensure that the right situations are in a position to invest in the blank energy transition. DNV is well-positioned for consumers to embrace this replenishment and pursue their climate ambitions. The intensity of our industry wisdom and functional expertise bring a price to our consumers, driving the long-term expansion of the sector while supporting the region’s energy transformation,” added Brice Le Gallo, Vice President and Regional Head APAC, Energy Systems at DNV.
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SOURCE: DNV AS
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