Climate Capital, which invests in renewable energy projects around Australia, has agreed to acquire from Sunrise Energy Group a majority stake in a new 2.3 MW solar farm at the Boonanarring Mineral Sands Project.
Boonanarring is a high-grade, zircon-rich, mineral sands project fully-owned by Image Resources NL (ASX: IMA) and located in the infrastructure-rich North Perth Basin.
Sunrise Energy will undertake the Engineering, Procurement, and Construction of the project.
The 2.3 MW solar farm is a ‘behind-the-meter’ installation that augments the existing grid supply. It is expected to improve the economics as well as the environmental impact of the Boonanarring project.
Climate Capital will fund the completion of the solar farm installation.
Climate Capital, which raised its first round of capital in 2018, provides co-investment opportunities in solar, wind and hydro-electricity. It specializes in developing smaller-scale renewable energy projects with the corporate sector that can overcome challenges in large and remote projects.
“The project demonstrates the potential for the corporate sector to reduce energy costs and improve emissions profiles by facilitating renewable energy solutions,” said Neil Canby, Executive Director of Sunrise Energy Group.
Read the media release HERE.
Source of featured image of Zircon: Wikimedia
