CIMIC Group’s
(ASX:CIM) company, UGL, has been awarded engineering, procurement and construction contracts to design and build two new solar farms.
The contracts are for the Collinsville Solar Farm in Queensland and the White Rock Solar Farm in NSW, which CIMIC expects to generate $117 million in revenue for UGL.
Taking into account these new contracts, CIMIC says UGL is now working on a total of nine solar farm projects.
The Australian government’s Clean Energy Finance Corporation will contribute $60 million to fund the construction of the Collinsville project.
The Australian Renewable Energy Agency will provide $5.4 million to build the White Rock project, as well as $9.5 million to fund the building of the Collinsville project.
This morning, CIMIC shares are tracking 3.4% higher at $39.98.
