A NEW solar farm being built by a local construction contractor – as part of a multi-million dollar statewide project – is set to generate 20 new jobs in a Riverland town.
Yates Electrical Services (YES) last week commenced construction on a 5-megawatt solar farm at David Street, in Renmark.
YES managing director Mark Yates said a partnership with Adelaide firm Sustainable Energy Infrastructure (SEI) would see $36 million of solar and battery projects built across rural South Australia during the next 18 months.
“Pre-COVID we engaged Chapman Capital Partners to undertake a capital raise for the business, seeking investment in a portfolio of projects we had been working on,” Mr Yates said.
“Chapman Capital provided us an introduction to SEI, which is funded by London-based Whitehelm Capital and they are fund managers for two large Australian superannuation funds.
“Two months later SEI provided an offer to fund the entire project portfolio, with a commitment of delivering approximately 20 megawatts of new, large-scale (solar and battery) plants in regional South Australia.
“We’ve been working hard on the David Street site for almost three years, and it’s great to see Australian superannuation funds investing in local projects, so developments like this can come to fruition.”
Mr Yates said the energy generated at the David Street solar farm would ensure the local electricity supply remained stable and reliable during high-demand periods on the network.
“The solar farm will take the pressure off the network locally in the Riverland,” he said.
“Heatwaves during summer put significant strain on the network, and having an asset like this locally will reduce pressure on the network during days of high demand.”
Mr Yates said construction of the solar farm would create new employment and benefit the local economy.
“There will be 20 direct jobs generated during the construction phase of the project,” he said.
“Plus there will be other sub-contractors, civil contractors and mechanical contractors that will form a broader group.
“The operation and maintenance of the plants will also provide ongoing local employment opportunities.”