Individual projects are 5MW(AC) and are connected to the local distribution network, rather than the long-distance transmission network, which is more cost effective and lower risk strategy. Canigou owns 5 projects proceeding to construction, have sold 2 other projects in 2023, and have another 2 under exclusivity, as of April 2023.

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The scale of each project is designed to match current and projected future demands for electricity (e.g. residential, commercial, industrial) within a given community. This means that the clean energy generated will be used locally. When choosing sites, we consider a variety of factors, including proximity to good quality network infrastructure, Council and State zoning restrictions, topography, and vegetation. Road access and availability of labour are also important considerations.

 

Why Australia?

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Reason 1: Growth in Solar deployment

Installed capacity from all energy sources in Australia is expected to grow from 88.4GW in 2021 to 190GW by 2050 of which renewable capacity is set to grow from 15 GW to over 160GW. Solar will be the driving force of this change making up over 40% of total capacity by 2050.

 

Reason 2: High Irradiation and Untapped Potential

Studies define the most favourable belt for solar energy production to be between 15°N/S and 35°N/S. These regions have the greatest amount of solar radiation, more than 90% of which falls directly because of limited cloud coverage and rainfall.

Almost 90% of Australia's territory lies perfectly within the latitudes of 15°S and 35°S, meaning that it is one of the few countries that lie almost entirely within the most favourable sun belt on the planet. 

 

Reason 3: Sizeable Peak Demand and High Energy Pricing

Australia has a high price for electricity, when combined with high irradiation, this representing a very favourable opportunity for solar development. Average prices in New South Wales in 2022 were 32.6c per Kwh which is higher than the European average. With a strong manufacturing/industry fuelled economy and a sizeable peak demand in summer, due to energy intensive cooling and air conditioning systems, that matches perfectly with peak solar generation. The Australian market for the sale of solar electricity is divided into two specific routes and the expected IRR for any project is determined by which route or blend of them is chosen to sell the generated electricity.

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Canigou are developing town-scale solar farm projects around regional Australia. Individual projects are in the range of 5MWp and are connected to the local distribution network, rather than the long-distance transmission network, which is more cost effective. 

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The scale of each project is designed to match current and projected future demands for electricity (e.g. residential, commercial, industrial) within a given community. This means that the clean energy generated will be used locally. When choosing sites, we consider a variety of factors, including proximity to good quality network infrastructure, Council and State zoning restrictions, topography, and vegetation. Road access and availability of labour are also important considerations. ​

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