OX2 has acquired the late-stage Corop Solar Farm and battery project in Victoria from original developer BNRG Leeson, a joint venture between Melbourne-headquartered Leeson Group and Ireland-based BNRG Renewables.
The late-stage hybrid project, planned for an almost 1,100-hectare site near Rushworth in central northern Victoria, includes 230 MW of solar generation and a 290 MW battery energy storage system with up to four hours of storage. The project will connect to the grid via an existing nearby 220 kV transmission line with OX2 saying the facility will “deliver both clean power and greater grid reliability for Victoria.”
OX2 said key development approvals have already been secured, while grid connection work is well advanced.
The project has also received a contract under Australia government’s Capacity Investment Scheme (CIS), a federal initiative providing contract underwriting and long-term revenue security.
Corop will become OX2’s second owned and operated project in Australia after the Muswellbrook solar and battery project in New South Wales (NSW), which reached financial close earlier this year and is now under construction.
OX2 Australia Vice President Steve Symons said this latest acquisition further strengthens the company’s growing presence in Australia’s renewable energy market.
“The acquisition of Corop is a significant milestone for OX2 in Australia. It builds on the momentum we’ve established with Muswellbrook and reinforces our commitment to delivering high-quality, reliable renewable energy projects as part of the country’s energy transition,” he said.
OX2, which is now owned by Stockholm-headquartered private equity investment giant EQT, entered the Australian market in 2023 and has established a project portfolio that includes seven operational solar farms with a total combined capacity of more than 2.4 GW. Its development portfolio consists of more than 3 GW of solar, wind, and storage projects in Victoria, NSW, Queensland, South Australia and Western Australia.
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