Soleir, a solar energy subsidiary of Red Sky has been awarded a grid connection agreement with New South Wales (NSW) government-run company Essential Energy for Dubbo Solar One project in the state.
With this Offer to Connect grant, the company will transfer 2.5MW energy output from the Dubbo project to the grid and sell electricity, besides securing a large scale renewable energy certificates.
Following the execution of Offer to Connect, a non-binding heads of agreement, Soleir is intending to formalize a binding ‘Connection Agreement’ for the project.
The process is expected to be completed within a month. The development follows a recent announcement by the company after it obtained an Australian Financial Services Licence (AFSL) by the Australian Securities and Investments Commission, which is aimed at facilitating unitized ownership structure for the project.
Red Sky, meanwhile, is anticipated to secure regulatory approvals for the funding structure within the next two months, with the first module of the Dubbo project scheduled for installation over the next 60 days.