Goldwind Australia, a subsidiary of Chinese wind turbine manufacturer, has secured nearly AUD700 million (US$536 million) project financing for construction of Australia’s largest wind farm, the 530-MW Stockyard Hill Wind Farm, located in Western Victoria.
The National Australia Bank (NAB) led the nine-member domestic and international bank syndicate which includes three Australian banks, three Japanese banks, two European banks and one Chinese bank.
Alongside NAB, the bank syndicate consists of ABN AMRO, The Bank of Tokyo-Mitsubishi UFJ, Ltd. (MUFG), Commonwealth Bank of Australia (CBA), Industrial and Commercial Bank of China (ICBC), Mizuho Bank, Societe Generale, Sumitomo Mitsui Banking Corporation (SMBC) and Westpac Banking Corporation.
On the other hand, SNC-Lavalin has been selected as the preferred contractor for the for the wind project and has commenced early works.
SNC-Lavalin, in joint venture with WBHO Infrastructure Pty Ltd. (WBHO), will undertake the engineering design, procurement and construction of all electrical infrastructure on the project in addition to site-wide infrastructure civil works; access roads, hardstands, foundations, public road upgrades, and internal access roads.
Stockyard Hill Wind Farm will be located about 35 km west of Ballarat, Victoria. The, project which is slated to be Australia's largest wind farm, will feature 149 turbines and will have a total of capacity of up to 530 MW. Grid connection is located beside the existing Moorabool to Portland 500KV transmission line near Lismore, approximately 30 km south of the project site.
As we reported in May, Australian utility Origin Energy Ltd agreed to sell Stockyard Hill wind project to Goldwind and to sign a and sign a long-term PPA from the commencement of operations in 2019 to 2030.
Origin agreed to buy all of the power generated by the wind farm and the associated Renewable Energy Certificates (RECs) for a market leading PPA price of below AUD60/MWh (US$44.2/MWh).
We have lately reported about other wind projects in Australia:
Offshore Energy Pty Ltd. (Offshore Energy) and Copenhagen Infrastructure Partners (CIP), on behalf of the fund Copenhagen Infrastructure III K/S (CI III), announced that they have entered into a partnership regarding the continued development of Australia’s first offshore wind farm, the Star of the South. The project has so far been developed solely by Offshore Energy.
Read moreThe Minister for Energy, Environment and Climate Change Lily D’Ambrosio has opened the competitive reverse auction that will deliver up to 650 MW of large-scale renewable energy for Victoria.
Read moreInstituto de Crédito Oficial (ICO) and ACCIONA have signed an agreement for a loan of AUD75 million (US$56 million) to finance the construction and start-up of the Mt. Gellibrand wind farm in the State of Victoria.
Read moreNexif Energy has announced that it has reached financial close for the first stage of the Lincoln Gap Wind Farm in Australia.
Read moreRES Australia announced Emerald Solar Park has reached financial close for both equity and debt on October 24, 2017.
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