Contract signed for USD6.77 billion transmission lines PPP project in Australia

A consortium ACEREZ, made up of Vinci subsidiary Cobra IS, Acciona, and Endeavour Energy has signed a 35-year commitment deed contract for a public-private partnership (PPP) project to erect a transmission network for renewable energy in New South Wales, Australia.

This EUR 6.15 billion (USD 6.7 billion) PPP encompasses the funding, design, building, operation, and maintenance of multiple 330 kV and 500 kV transmission lines, substations, and related infrastructure connecting to various renewable energy plants with a combined capacity of 4.5 GW. Positioned within the extensive Renewable Energy Zones (REZ) initiative, a key focus of the NSW Government to stimulate investments in renewable energy production and storage, this project is overseen by Cobra IS. Cobra IS will hold a share in the special-purpose vehicle for the PPP and will be responsible for the project's execution. The electricity generated will serve approximately 2.7 million residents in the cities of Dubbo and Dunedoo in the Orana region.

Engineering activities are set to commence in early 2024, with the electrical network anticipated to become progressively operational by Q3 of 2027. The financial closure is projected to occur in the latter part of 2024.