Spark Infrastructure Group (ASX:SKI) has purchased the Bomen Solar Farm near Wagga Wagga in NSW from Renew Estate.
It says the purchase is a high-quality, shovel-ready project in a strong grid location which will provide a stable revenue stream.
A 10 year power purchase agreement (PPA) is already in place with Westpac and 5-year, 7-year and 10-year PPAs are in place with Flow Power.
When operating, Bomen is expected to generate average annual revenue of approximately $13.5 million for the first five years.
Shares in Spark Infrastructure Group (ASX:SKI) are trading 0.22 per cent lower at $2.23.