The Sebastopol Solar Farm has come under new ownership as the project's development progresses.
Sydney business FRV Services Australia will assume full ownership and development rights to the approved 90 megawatt farm subject to approval from the Foreign Investment Review Board.
The solar farm, set to be located 16 kilometres south of Temora, is expected to create permanent jobs for two to three staff, along with up to 150 jobs during construction and ongoing local contract work.
Temora mayor Rick Firman said the influx of jobs during the construction phase would be vital for the shire as it continues to feel the effects of drought.
"We think it's so, so crucial," he said.
"Particularly during these dry times."
Mr Firman said there were a range of positive economic flow-on effects from new industry coming to town.
"It's another sign of a strong and vibrant shire ... there's going to be benefits as we've articulated in terms of employment, those people earning money, they will spend it down in our business community and community events and so on, the money just keeps recycling," he said.
"Also it's great for some of those people that may not have had a position for a while, some people might choose to perhaps move here as well."
"You just never know what the positive spin-offs will be so we're very, very grateful."
In a statement, FRV said it was pleased to be part of the transformation of the NSW electricity generation system, and the ongoing maintenance work around the facility would contribute to a range of local industries from material supplies to food and accommodation.
"Sebastopol Solar Farm is in the final stages of development and will contribute both economically and environmentally to the region as well as the state," the statement said.