Farming the sun: NSW rural properties being snapped up for solar
NSW is becoming a hot spot for solar farming with large-scale projects completed and in the planning stages. Michael Guest from Rural Property NSW comments on what this means for landholders.
NSW is emerging as the leading state in the development of large-scale solar projects, with a number of significant rural property transactions occurring to accommodate the industry’s growth in recent years.
There are currently three operational large-scale solar projects in NSW located at Nyngan, which is the largest solar farm in Australia, Broken Hill and Moree. There are at least another eight projects in approval and development stages across the state.
Rural Property NSW Director, Michael Guest, says he’s been fielding an increasing number of enquiries from solar developers.
“The interest in agricultural land for solar farming generally originates from overseas venture capitalists partnering with Australian companies,” he explains.
“They are usually seeking to enter lease arrangements with traditional farming family property owners.”
Australia has the highest average solar radiation per square metre of any continent in the world and NSW, in particular, has been a hotspot for solar farming activity due to an abundance of excellent solar resources. Wide open spaces in the right climate along with access to established electricity infrastructure has made it an attractive location for developers.
“In the north west of NSW, preference is given to flood-free land with good access to the existing power grid and a willingness to enter into a longterm lease of approximately 25 to 30 years,” Michael says.
“For many property owners, the make-good arrangements at the end of the lease are problematic and challenge the cost-benefit analysis.”
The development of solar projects in NSW has no doubt been accelerated by positive community attitudes, with the solar industry attracting far less resistance than other industries which seek to acquire property for development.
For further information on solar farms in NSW, visit Solar Farms - NSW Government.
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