helll i might cover my short,, imagine if this spikes 1 dolor then im screwed..
Australia will build 150 MW solar power station
MELBOURNE (MarketWatch) -- Australia has secured funding to build an A$923 million ($981.5 million) 150-megawatt solar power station, one of the world's largest, government ministers said Saturday.
The Moree Solar Farm will be built near Moree in the north of New South West state and is expected to generate more than 400 gigawatt hours of electricity a year, capable of running 45,000 homes, state and federal officials said in a statement.
The project involves constructing a power plant and transmission line that will link the plant to the electricity grid. About 650,000 solar panels will cover an area of 1,100 hectares, and will be built in stages and expanded over five years to 150 MW capacity.
"The solar project will be the largest of its type, I am advised, in the world," said Kevin Humphries, minister for Western New South Wales.
The state government said it will contribute up to A$120 million toward construction, which was awarded to BP PLC's /quotes/zigman/247026/quotes/nls/bp BP +0.86% BP Solar unit, Fotowatia and Pacific Hydro, and the federal government will contribute A$306.5 million. It said another A$66.5 million will be provided by the Commonwealth government to state research institutions for solar research. The three companies will make up the remainder of the spending on the project, it said.
According to BP Solar, capital expenditure on the plant will be between A$600 million and A$700 million and construction is expected to create 300-400 direct jobs, the state government said.
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