Coolamon Energy director Craig Johnston. Photo: Liana Turner
Coolamon Energy director Craig Johnston. Photo: Liana Turner

Funds sought for solar farm’s feasibility study

FUNDS are being raised for a feasibility study into a solar farm planned for the Byron Shire.

Coolamon Energy is in the process of raising capital to support the study into plans for Byron Bay Solar Farm.

Byron Bay Solar Farm Holdings was announced as a recipient of $3.5 million in State Government funding in March.

One of Coolamon Energy’s directors, Craig Johnston, said they were seeking wholesale investors to help build the renewable energy facility.

“This Seed Round investment is close to being fully subscribed with strong interest from experienced wholesale investors in the mid-sized utility scale solar farm market,” he said.

That Seed Round closes when fully subscribed and the project developers expect this to be in the next week.

The idea behind Byron Bay Solar Farm, to be built in Ewingsdale, came out of a 2017 think tank.

The state funding was secured to allow the project to involve battery storage from the early stages.

“The focus of the event was to identify pathways to achieving 100 per cent renewable energy within the Byron Shire,” Mr Johnston said.

That event led to this private landowner project as well as a council-led stream for boosting the region’s renewable energy production.

“Coolamon Energy are interested in hearing from investors who have interest in participating in the Construction Capital Raising Round which is planned for November/December 2020,” Mr Johnston said.

“This is the round that will help finance the build of the solar farm.”

Construction on the solar farm is expected to begin in the first half of next year.

To enquire about how to invest in the project, contact Mr Johnston via email on craig@coolamon.energy or phone 0414 566 746.