Beef business receives solar funding

A $990,000 solar project by Australia’s largest beef cattle producer is being co-funded by the Clean Energy Finance Corporation (CEFC) and National Australia Bank (NAB).

The Australian Agricultural Company Limited (AACo) project will see photovoltaic (PV) systems installed across 15 grid-connected sites in Queensland. Sites include stations at Julia Creek, Normanton, Dalby, Surat and Comet.

“These systems will enable us to cut our current grid energy consumption and association carbon emissions by nearly 30%,” said AACo CEO and Managing Director David Farley.

“The solar program is part of our plans to implement sustainable environmental management that protects and enhances the resources that support our production systems and help us secure our long-term future.”

“The utility and commercial sector business case continues to improve as the relative cost of solar energy generation falls,” said CEFC CEO Oliver Yates.

“However, there are still impediments to business investment in solar. We can help catalyse investment and increase capital to fund the market and reduce finance costs of both shorter term bank funding and longer term investment.”