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UK’s United Green forays into Australian energy market

United Green
The investment firm has acquired a 50 percent stake in  Rodds Bay Solar Farm

United Green has forayed into the Australian clean energy market by acquiring a 50 percent stake in  Rodds Bay Solar Farm worth $350 million. United Green is a UK-based privately owned strategic investment group.

It is reported that United Green has acquired a 50 percent stake from Renew Estate. Renew Estate is an Australian company focused on developing renewable energy projects in Australia.

The Rodds Bay Solar Farm with a capacity of 300 MW is located near Bororen which is 50km south of Gladstone.

Simon Currie, Director of Renew Estate, told the media, “We continue to passionately believe that this project will deliver significant and impactful benefits not just to Gladstone, but also the wider regional economy in Queensland across 2020 and 2021. Our vision for this solar farm has always been to create positive and enduring social and economic legacies, including the creation of hundreds of jobs during construction. It will be one of the first renewable projects located close to Gladstone and will play a pivotal role in enabling Gladstone to become the future energy capital of Australia.”

The Rodds Bay Solar Farm is expected to produce power to meet the demand of 88,000 homes, media reports said. The construction of the project will begin before the end of 2020.

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