NEWCASTLE’S largest solar farm project has received a massive shot in the arm with millions in federal finance to flow towards the landmark proposal.
The Newcastle Herald can reveal the Clean Energy Finance Corporation will loan Newcastle City Council $6.5 million to get the project at Summerhill tip off the ground.
The council will also announce on Wednesday the successful builder, Lendlease, with construction expected to start in June. The project is expected to save council coffers an estimated $9 million over its 30-year life. And it is understood the CEFC loan would be paid back within seven years. Read full article