APA Group to Invest AU$259 Million in Queensland Solar Farm, Battery Energy Storage System
MT Newswires Live09:20
APA Group (ASX:APA) is set to spend AU$259 million under a final investment decision to construct, own, and operate the 72-megawatt Sybella Creek Solar Farm and 52-megawatt battery energy storage system in Queensland, according to a Thursday filing with the Australian bourse.
The investment is underpinned by an energy supply agreement with Evolution Mining (ASX:EVN) unit Ernest Henry Mining until mid-2046, per the filing.
Under the agreement, Diamantina will provide firming capacity and energy supply, APA said.
It added that construction is expected to start late this year, with project completion planned by mid-2028.
Evolution Mining shares rose 9% in recent Thursday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
