Jul 9, 2021
EG Update July 2021
We have completed Milestone 2 for the Solar Farm and submitted our report to the Regional Community Energy Fund program team for review. This includes information on the Co-op registration, site selection, tender process and grid connection. Although it is a couple of months behind schedule, work has been progressing at the same time on Milestone 3.
We have received seven tender prices for design and construct contractors but unfortunately, they are all more costly than we expected. On top of that, the detailed connection fee from Essential Energy is also higher than budgeted. This means that we are reviewing the design and financial analysis to develop a more profitable system.
We are currently revisiting and optimizing the project details, and are discussing potential options with the Department of Planning, Industry and Environment. If we get approval in principle from the Department to alter our plan we will explain our ideas to you. We are also exploring options for selling the electricity through higher income arrangements.
The Energise Gloucester Committee is still committed to developing the Solar Farm but need to ensure that Shareholders get an acceptable return on their investment. We will keep you updated as we work through these issues.
Energise Gloucester Inc