Business
Solar investor faces writedown in value of solar farms as electricity prices fall – RenewEconomy
New Energy Solar flags write down of the value of its large-scale solar portfolio after Covid-19 hit wholesale electricity price forecasts.
The listed large-scale solar investor New Energy Solar is facing a write down in the value of its US and Australian solar portfolio, blaming a fall in the projected wholesale electricity prices in both countries.
New Energy Solar owns 14 solar farms in the US, and two in Australia, including the 55.9MW Manildra solar farm in NSW, which sells power to EnergyAustralia under a 10-year power purchase agreement, and the 110.9MW Beryl solar farm, which sells power to the Sydney Metro project under a …
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