Cambridge JMD Australia, the renewables arm of Singapore-based fund manager Cambridge RE Partners, has announced plans to develop the first 400 MW phase of a solar project of over 1 GW in the north of the Australian state of Queensland. The proposed 400 MW Cambridge Solar project is expected to be developed across 16 km2 in Upper Haughton (Queensland) and is expected to require a total investment of AUD$650m (US$425m).
Cambridge Solar would be the first phase of the 1 GW North Queensland Renewable Energy Park, a project worth AUD1.7bn (US$1.1bn) developed in three stages. The project is led by Cambridge JMD Australia in collaboration with north Queensland landholder Davco Farming, and with Singapore’s Confluence Energy as the proposed developer. Once fully developed, the project is expected to generate approximately 2.48 TWh/year of clean energy. To the moment there is no official timeline for the project, but site works are expected to start in 2025, with commissioning of the first phase by late 2026.
At the end of 2022, Australia had a power capacity of 101 GW, of which solar accounts for 30% (30 GW); according to preliminary estimates, solar capacity exceeded 33 GW at the end of 2023.
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