Green light for Victorian solar plant

Construction of a solar electricity plant big enough to power 45,000 homes each year now has the green light to start, after a $285 million commitment from a Victorian electricity retailer.

Solar Systems, a private Melbourne-based company, will develop the $420 million plant, on a number of sites yet to be confirmed across the Mildura and Swan Hill regions in northern Victoria.

Victorian electricity retailer TRUenergy has invested $40 million to take a 20% ownership in Solar Systems and will also invest up to $285 million in the plant, which will connect to the national electricity grid.

Solar Systems says the station will generate 270,000 megawatts of electricity every year, enough to meet the annual needs of more than 45,000 homes, without generating any greenhouse gas emissions.

The project is expected to provide 950 jobs during construction, which will start in 2009.