South Korean Group Inks MoU to Develop Green Energy Project in Australia’s NT

Australia’s Northern Territory Government has signed a Memorandum of Understanding (MoU) with Larrakia Energy and Korea Midland Power to work in cooperation to achieve the rapid, efficient, and effective development of the state’s Green Energy Project.

Larrakia Energy is a Northern Territory company owned and managed by Larrakia Development Corporation (LDC) and Western Australia-based renewable energy company, Progressive Green Solutions (PGS).

Korea Midland Power also known as KOMIPO, is engaged in providing electricity in South Korea and internationally. The company operates Thermal power plants, and new and non-renewable energy plants including Photovoltaic solar energy, Bioenergy, Refuse derived fuel (RDF), and wind power.

The Northern Territory’s Green Energy Project includes the scoping, construction, and operation of a 300MW photovoltaic power plant (also known as a solar farm) on land in the Greater Darwin Area in close proximity to the Middle Arm Sustainable Development Precinct.

The two-year agreement strengthens local and international ties and formalises the relationship with the Territory to complement the proponent’s own expertise in renewable energy, project development, and financing.

The Middle Arm Precinct is seen as a potential game changer for the Northern Territory and is expected to create up to 20,000 local jobs and generate billions of dollars for the state’s economy.

“By capitalising on every opportunity and creating strong relationships the Northern Territory has what it takes to be a thriving economy and reach our goal of a A$40 billion economy by 2030,” said Eva Lawler, Minister for Infrastructure, Planning and Logistics, Northern Territory.

“The Green Energy Project has the potential to create thousands of jobs and increase our sustainable energy production for countless years to come. Our focus on clean energy will drive us long into the future as we become leaders in the green energy sector.” Lawler added.