Australian renewable energy company Maoneng has announced a partnership with Chinese solar panel manufacturer and turnkey project developer Chint New Energy to build 2GW of solar capacity and bring it online by 2025 as part of a new joint venture.
The new capacity will be connected to the country’s National Electricity Market (NEM) grid once operational.
Maoneng will take a 40% share of the venture, with Chint holding the majority 60%, and whilst no significant details have been shared to date, $200 million in funding has been allocated to the project.
“By taking on fledgling large-scale solar projects and getting them across the line, we will be increasing our drive to make Australia 100% renewable,” said Maoneng CEO and Chairman, Morris Zhou. “Working with Chint New Energy, we will achieve this by either bringing these projects to financial close, completing constructing, operating them—or all three. Areas in which this joint venture has extensive experience.”