Edify Energy has reached financial close on the Smoky Creek and Guthrie’s Gap Solar Power Stations, set to become the largest solar and battery hybrid projects currently under construction in Australia.
Located in Central Queensland on the traditional lands of the Gaangalu Nation People, the projects will combine 720MWp of solar generation with 600MW/2400MWh of battery storage.
The milestone follows a major customer offtake agreement, support from government, landholders and local communities, and backing from La Caisse, helping unlock long-term benefits for regional Queensland.
The financing package brings together 14 domestic and international lenders in what Edify Energy said is a first-of-its-kind greenfield renewable energy portfolio financing structure in Australia. The projects are also supported by solar and battery hybrid services agreements with Rio Tinto and backed by the Australian Government’s Capacity Investment Scheme (CIS).
Together, the projects will deliver utility-scale solar generation paired with battery storage and advanced grid-forming inverter technology designed to provide low-cost, reliable and dispatchable renewable energy. They are expected to strengthen Queensland’s energy system, support industrial demand and improve reliability as ageing thermal generation retires.
Edify Energy said the projects are the first to be financed under its new greenfield renewable energy debt financing platform, which is intended to provide a scalable model for future project delivery.
Under long-term agreements with Rio Tinto, the mining and metals company will purchase 90 per cent of the power and battery storage capacity generated by the projects over 20 years. The energy will support Rio Tinto’s Gladstone aluminium operations with more affordable, reliable and lower-carbon electricity.
Edify Energy said the projects also represent one of Australia’s largest renewable energy offtake arrangements for the industrial sector and highlight the growing role of firmed renewables in decarbonising heavy industry.
Construction is expected to create up to 800 jobs at peak, while also supporting apprenticeships, local skills training and regional suppliers across the Banana Shire. The projects include a community benefits program spanning more than 35 years and commitments to local content and First Nations support under the CIS agreements.
Edify Energy CEO, Ben Warne, said Smoky Creek and Guthrie’s Gap are critical projects in the energy transition, generating cost-effective, reliable and dispatchable renewable energy.
“These are the first projects to reach financial close under La Caisse ownership and reflect the scale of Edify’s and La Caisse’s ambition in making a meaningful contribution to the energy transition.”
