Epuron, an Australian renewable energy company, has acquired the 1 MW Uterne solar power plant in Alice Springs, Australia, from SunPower. Commonwealth Bank has provided project financing, making it the country's first major bank to support a solar project of this size, the companies note.
The project was developed by SunPower with the support of Power and Water Corp. Under a solar power purchase agreement, Power and Water Corp. will buy generated electricity at a guaranteed rate over a 20-year term. Following the acquisition, SunPower will continue to provide operations and maintenance services in conjunction with Ogden Power, a SunPower-accredited solar company based in Alice Springs.
The development of Uterne was made possible with funding assistance from the Australian government as part of its Solar Cities program.