Providence Asset Group plans to build a 5 Megawatt (MW) community solar farm, resulting in locally reduced energy costs, and local investment in energy infrastructure, new industries and jobs.
Providence is an Australian owned and based investment fund with a registered Australian Financial Service License (AFSL No 223344).
Our investors are a range of sophisticated investors who support impact investment. As an ESG (Environmental Social and Governance ) dedicated investment fund, we comply with the stringent requirements of ASIC and have a serious commitment to social and environmental wellbeing.
This solar farm is a 5 MW project and will cover approximately 15 hectares of land just outside of town. The development area is not expected to be expanded over the lifetime of the project.
Yes, it’s our intention to use local contractors where possible and we encourage those to register their interest in the tender process to be advised at a later stage.
Solar farms operate quietly over a period of 25-35 years. The farms will be regularly maintained by operations and maintenance contractors to ensure efficiency and longevity.
For a project of this size, construction will take approximately 6 months.
Solar technology is a mature and proven clean technology. Solar pricing has reduced drastically over the last 5 years and is now one of the cheapest forms of power generation.
When coupled with storage, solar is considered one of the cost-effective and efficient means of harnessing the potential of the sun, balancing intermittent supply and demand, and ultimately supporting a reliable and sustainable renewable energy system.
The solar farm produces clean electricity which is sold to the National Electricity Market. If there is enough local interest, a bulk sale arrangement can be offered to customers in the local community at a more affordable level.
The project will use top tier solar panels with 10-year product warranty and a 25-year performance warranty. Installation, operation and maintenance will be completed by accredited contractors with local employment opportunities.
Absolutely. Providence is at the forefront of ongoing development and evolution of hydrogen storage technology. Providence aims to install cutting edge storage solutions after the solar farm becomes operational. At its heart it, solar and storage is an affordable renewable energy source with the potential to help diversify rural and regional economies and inspire job growth – both directly during the development and construction phase of the project, and then through the establishment of new businesses encouraged to the region by the benefits of increased electricity grid stability and energy resource options.
The solar farm will supply the community during daylight hours. The coupled storage solution will enable the project to provide energy to the community well into the night, however grid energy will still be required to supply the community for some periods.