Brisbane-based LGI has entered into a binding agreement with the IIG Solar Asset Trust to acquire the 34.5 MW Brigalow and 19.9 MW Chinchilla solar farms in Queensland, adding 54 MW of solar generation to it hybrid energy generation and storage platform.
The company said the $22 million (USD 15.37 million) purchase price equates to approximately $500,000 per MW and is “materially below greenfield development cost for comparable assets.”
“Chinchilla and Brigalow are proven, operational assets acquired well below replacement cost that complement our existing distributed grid-connected footprint,” LGI Chief Executive Officer Jarryd Doran said, noting that the deal significantly expands the company’s renewable generation base and strengthens its position in utility-scale solar.”
“With this acquisition, the company upgrades its medium-term strategic pipeline target to over 120 MW of distributed, renewable, dispatchable capacity, while remaining fully committed to developing the 80 MW high-conviction pipeline previously announced,” he said.
Chinchilla Solar Farm, located about 10 kilometres northwest of the town in Queensland’s Western Downs region, has 19.9 MW installed and 14.7 MW export capacity and commenced commercial operations in 2019. The Brigalow Solar Farm at Yarranlea, 42 km southwest of Toowoomba, has 34.5 MW installed and 27.3 MW of export capacity and began operating in 2021. The farms generated 20,981 MWh and 33,229 MWh respectively in 2025. Both facilities have more than 30 years remaining on their land leases, and both sell all their output into the spot market.
LGI, which develops and operates landfill gas energy recovery projects across Australia, said the purchase of the solar farms is a natural extension of the company’s strategic objective to grow its renewable generation base.
“Both solar farms align with our existing operational model, being inverter-based assets connected directly to regional networks,” the company said in a statement, noting that it has intensified its assessment of solar opportunities over the past year “as valuations have softened in line with energy prices.”
LGI said its focus coincides with rising demand in the National Electricity Market, driven by electric vehicles, industrial electrification and merging high-consumption sectors such as data centres.
“At the same time, the supply side is undergoing rapid structural change as variable renewable generation enters the market and conventional thermal generation approaches end-of-life, with declining reliability,” LGI said.
“Against this backdrop, the company sees positive medium to long term tailwinds for electricity markets, underpinned by rising demand and a fundamentally shifting supply mix.”
LGI said it intends to transition the maintenance and operation of the Chinchilla and Brigalow solar farms in-house and will apply its proprietary Dynamic Asset Control System (DACS) across both sites to optimise energy dispatch and improve price outcomes.
The company said preliminary studies on battery energy storage system (BESS) integration have been initiated at both sites with early viability supporting a case to consider expanding these sites with batteries over time.
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