Samsung C&T (Trading & Investment Group) said on the 5th that it recorded its first monetization outside the United States by selling development rights for a solar and energy storage system (ESS) power project in Queensland, Australia.
The Dunmore power project rights sold this time were sold by Samsung C&T Renewable Energy Australia (SREA), Samsung C&T's renewable energy subsidiary in Australia, to Octopus Australia, the Australian subsidiary of U.K.-based Octopus Group.
Dunmore, the project site, is 240 kilometers west of Brisbane, and the site is 538 hectares (ha), about twice the size of Yeouido.
The installed capacity will be built as a hybrid of 300 megawatts (MW) of solar and a 150 MW/300 megawatt-hour (MWh) battery energy storage system (BESS). This is enough to power more than 60,000 households in Australia annually.
Samsung C&T has developed and operated large-scale wind-solar hybrid complexes in Canada since 2010. It entered the U.S. market in 2018, and cumulative gains from divesting its U.S. solar development business total about $300 million (about 410 billion won).
Building on its North American results, it established an Australian subsidiary in 2022 and is actively developing projects in Queensland, New South Wales, and other areas.
A Samsung C&T official said, "Based on our steady U.S. solar track record and these results in the Australian market, we will expand our renewable portfolio beyond greenfield development," adding, "We plan to widen our stride in the global market through joint development via partnerships and by operating solar and ESS power plants."