The project was originally developed by RES and has a total investment cost of AU$450 million (US$344 million).
Ararat Wind Farm is a new-build site located on rural land approximately 180 km northwest of Melbourne. The project consists of 75 wind turbines with an expected rated capacity of up to 3.4 MW each, bringing the total generating capacity to roughly 240 MW.
The site has been awarded a 20-year feed-in tariff by the Australian Capital Territory (ACT) Government for a significant portion of the wind farm's output. Construction on the site will commence immediately with completion scheduled for mid-2017.
"Ararat Wind Farm is a well-structured project with high-quality counterparties and a strong wind resource. The timing of our investment aligns with increased certainty around Australia's Renewable Energy Target, which will require a substantial build-out of renewables in the coming years. The wind farm will make a great contribution not only to the local community in Ararat, in the form of employment, education and investment, but also to the future of renewable energy in Australia."
By supporting growth and employment in the renewable energy sector, Australia's Renewable Energy Target (RET) scheme is aiming to source 20% of the country's electricity from renewables by 2020.
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