(Yicai Global) Sept. 17 -- Lyon Infrastructure Investments 1, a unit under Australian private power firm Lyon Group, has penned a USD250 million deal to buy photovoltaic components from a Chinese supplier as it looks to work on several projects throughout its home country.
China Western Power Industrial and Shenzhen Wanzhao Energy Connection Technology will supply the parts according to a framework agreement signed on Sept. 13, the former said in a statement a day later. China Western will ship its P19 series components and more modern ones as they are developed, while Wanzhao will provide technical support and trade assistance.
The equipment will be able to produce about 630 megawatts of solar power, which will be used at Cape York, Riverland and Nowingi by June 2020, according to the deal. The sale is the first major solar contract for China Western, it said, adding that it believes the transaction is a positive reflection of its product upgrades and business transformation.
Prices will be determined on an ongoing basis with Lyon, which was responsible for Australia's first large-scale solar and battery storage project, making separate purchase orders for the equipment as the projects progress, the statement added, noting that the Cape York plant starts as soon as next month. The document did not disclose how Wanzhao will be compensated for its role.
Editor: James Boynton