News / IPPToday #39: Largest wind farm in Australia hits the financial close

IPPToday #39: Largest wind farm in Australia hits the financial close

🕔 August 18, 2017
IPPToday #174: New York awards contracts for 1.38 GW renewable projects

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AGL Energy (AGL) has announced that the 453 MW Coopers Gap wind farm is set to proceed to construction having achieved financial close with the sale of the project to the Powering Australian Renewables Fund (PARF).  

The PARF, which is a partnership between AGL, and QIC, on behalf of its clients the Future Fund and those invested in the QIC Global Infrastructure Fund, is targeting the development of approximately 1,000 MW of large-scale renewable energy projects.

The wind farm will consist of up to 115 turbines, which would produce around 1,400 GWh of renewable energy, powering more than 240,000 average Australian homes. The renewable energy produced would reduce CO2 emissions by approximately 1,100,000 tonnes annually, which is the equivalent of talking over 320,000 cars off the road.

The site will be located on 10 properties near Cooranga North between Dalby and Kingaroy on land which is predominately used for cattle grazing and other farming activities. The wind farm is planned to be connected to a new Powerlink substation along the new Western Downs to Halys 275kV transmission line built by Powerlink.

The AUD850 million (US$673 million) project will be the largest wind farm in Australia on completion and it is expected to be completed by mid-2019.

AGL Manager Project Development, Evan Carless, said:

"The project will provide significant direct and indirect investment to the Cooranga North and surrounding region."

“Up to 200 jobs will be created during the peak of construction and up to 20 jobs once operational. We are excited about what this means for the local community during and post-construction.

“It’s also great to see the support AGL is getting from equity partners and lenders for these projects demonstrating the appetite for the private sector to invest in Australia’s energy transformation and support projects like this in regional communities.

“As the project has now achieved financial close and is moving from development to construction phase, AGL’s Tim Knill will assume responsibilities as Construction Project Manager for the wind farm.”

AGL has named a joint venture consisting of GE and Catcon as the successful tenderer for the engineering procurement contract. AGL and GE/Catcon will develop the wind farm.

As we reported, in early June, the wind project received the development permit from the Queensland Government

We have lately informed about other wind projects in Australia:

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