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An Australian company focused on landfill gas and renewable energy, LGI, has reached an agreement to purchase two operational solar PV facilities in Queensland. The deal covers 42MW of export capacity and carries a price tag of AU$22 million, or US$15.3 million.
The ASX-listed firm also intends to increase its medium-term pipeline goal beyond 120MW, raising it from the 80MW figure it had disclosed earlier.
LGI captures biogas from landfill sites to produce electricity and carbon credits, and it runs battery storage as well. Its assets are dispatched via proprietary software called the Dynamic Asset Control System (DACS), which is designed to maximise returns across both energy and carbon markets.
The two solar PV plants are being acquired in full from IIG Solar Assets Pty Ltd, acting as trustee for the IIG Solar Asset Trust, and come with no debt attached. Settlement is anticipated on 9 October, shareholder approval is not needed, and the acquisition will be paid for using cash alongside LGI’s current debt facility.
Located near Baking Board, the Chinchilla solar PV facility has 19.9MWp of installed capacity and 14.7MW of export capacity. Operations began in 2019, and its land lease still has 31 years remaining.
The Brigalow solar PV plant at Yarranlea carries 34.5MWp installed and 27.3MW of export capacity. It started operating in 2021 and has 33 years left on its lease.
Combined, the generation facilities total 54MW installed versus 42MW of export capacity. In 2025 they produced 20,981MWh and 33,229MWh respectively, with all output sold at spot prices.
The acquisition price equates to roughly AU$0.5 million for each MW of export capacity, which LGI states is cheaper than building comparable assets from the ground up. The company noted it reviewed numerous solar assets over the past year as valuations declined in step with energy prices.
LGI projects the plants will contribute annual EBITDA of between AU$2.1 million and AU$4.0 million at prevailing electricity prices.
That range hinges on the pace at which it converts revenue and rolls out DACS, and the company anticipates roughly AU$1.6 million during the 2027 financial year, based on a nine-month contribution.
LGI intends to internalise operations and maintenance. Chief executive Jarryd Doran called the plants proven, operational assets acquired well below replacement cost.
Since installed capacity is greater than export capacity, LGI says the excess could be directed toward charging battery storage systems at either location. Early-stage studies into adding battery storage have commenced at both projects.
The revised target merges the 80MW pipeline with the 42MW of solar. LGI’s investor presentation breaks the total down as 26MW of biogas, 42MW of solar and 57MW of battery energy storage.
According to LGI, electricity demand in the National Electricity Market (NEM) is rising because of electric vehicles, industrial electrification and data centres, even as ageing thermal generation nears retirement. The company adds that distribution-connected projects sidestep transmission bottlenecks.
Solar output is already encountering grid constraints. Utility-scale solar curtailment dropped to approximately 22% in September from 26% the prior year, while Queensland recorded a September high of about 645GWh in utility solar output. Across all NEM states, spot prices averaged under AU$65/MWh during the month.
Data centre demand policy is still unresolved. In July, Queensland and the Northern Territory rejected a national agreement that would have obligated large new data centres to finance extra renewable generation.
Investor sentiment remains divided. A survey conducted for the Clean Energy Investor Group revealed that 65% of respondents believe Australia will fall short of its 82% renewable energy target for 2030, while 77% reported that the investment environment had deteriorated. Transmission delays were identified as the leading obstacle.
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