DomaCom are launching one of Australia’s first crowdfunding campaign to secure multiple sites to develop a solar farm to service the energy needs of its nearby industries and communities, as well as feeding excess power into the National Electricity Network.
As the Australian population grows and older, ‘dirty’ energy production facilities powered by non-renewable coal are shut down, Australia needs to shift to cleaner, renewable energy sources. Solar power fits the bill perfectly and investors will get rewarded through a combination of:
- An agreed rental of 12 % capitalised whilst initial connection and planning permits are applied for and then 7.5% p.a. thereafter and for the initial array of solar panels infrastructure.
- An expected uplift in the capital value of the land due to the improved commercial value of the land with permits in place
- 7.5% p.a. plus tax credit estimated at 125%.
The identified location for this initial site, has site specific engineering report qualified high annual sunshine and electricity generation output. The identified land is adjacent to an existing sub-station and connection options from the relevant State Electrical Authority have now been received.
This project is initially aiming to raise a total of AU$2.0 million to purchase the sites, finalise due diligence and acquire the necessary permissions.
An excellent attribute of solar power, is that unlike virtually any other form of power generation, revenue can be generated from the installation of the very first panels. The whole solar farm does not have to be built in order for returns to investors to commence as the development is modular.
In order to maximise revenue the farm proposes to install state of the art motorised sun tracking which will tilt panels more optimally to the sun throughout the day which can generate up to 40% more solar energy per day. In addition, the farm will be looking to install battery technology to help maximise revenue opportunity by storing energy when electricity demand and prices are low and selling into the grid when prices are higher (evenings and very hot days).
The end size of the farm is expected to be up to 100MW, sufficient to power up to 39,000 homes (based on average house usage of 16kw per day).
If you would like to invest in the Solar Farm project, you can join this crowdfunding campaign by completing the application and lodging your investment funds through this General Advice page. Please ensure that you first read the DomaCom Fund’s Product Disclosure Statement (PDS). For a copy of the current PDS, please click here or call your financial adviser.
When you have lodged your bid and the campaign is filled, you will also receive a Supplementary Product Disclosure Statement (SPDS) outlining the specific offer to invest in the Solar Farm project which will contain all the information required for you to make a decision. You are not bound to proceed with your bid amount for this Solar Farm project crowdfunding campaign until you accept the offer contained in the SPDS (which will include the specific details for the properties).
If you are new to DomaCom, click on the Apply button to begin your application. If you are an existing DomaCom Fund investor, you can login to access your account and all the other public crowdfunding campaigns by clicking the Investor Login button.