Ark Energy has reached a final investment decision (FID) for the $1.3 billion Richmond Valley solar farm & battery energy storage system (BESS) in New South Wales, Australia. The project will be supported by a financing package comprising $586 million in equity and $716 million in debt. The priority stage includes development of a 200 MWac solar farm and a 275 MW/2,200 MWh lithium-iron-phosphate BESS.
Financial close for the project is expected in September 2026, with construction scheduled to commence in October 2026 and commercial operations are targeted for January 2029. Additionally, the project has secured planning approvals, grid connection, and a Long-Term Energy Service Agreement under the NSW Electricity Infrastructure Roadmap. Ark Energy has also signed a BESS supply agreement with Hanwha Energy in March 2025, followed by an early contractor involvement agreement with Elecnor Australia in September 2025.
In July 2026, Ark Energy completed the handover of the approved 300 MW St Patricks Plains Wind Farm in Tasmania to Vestas Development Australia. The project has approval for up to 47 wind turbines and is capable of generating enough electricity to power approximately 131,000 Australian households annually. Project construction is expected to commence in the first half of 2027, with commercial operations targeted for 2030.
