CIMIC's UGL wins Vic solar plant contract

CIMIC Group's UGL unit has secured a $133 million contract to build the first stage of the Bannerton solar park in Victoria.

CIMIC subsidiary UGL has won a $133 million contract to build the first stage of the 110-megawatt Bannerton solar park in Victoria.

The engineering and construction giant on Monday said UGL, which it bought in 2016, expects to generate the $133 million of revenue over the contract's three-year term.

The project will start generating power from July 2018, after which UGL will provide operation and maintenance services for a further two years.

"CIMIC and UGL are pleased to be delivering this significant solar project and supporting the growth of the renewable energy market in Victoria," CIMIC chief executive Adolfo Valderas said.

UGL has already delivered five solar projects and has another four under construction - two in Queensland and one each in NSW and WA.

"UGL has strong expertise in the renewable energy sector, with nine current and past solar projects around Australia," UGL managing director Jason Spears said.

"We are pleased to have this opportunity to contribute to the further expansion of the renewable energy market."

The project is part of the Victorian government's push for renewables.

Legislation to lock in Victoria's renewable targets at 25 per cent by 2020 and 40 per cent by 2025 was introduced into state parliament in August.


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Source: AAP


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