Kennedy hybrid project reaches financial closure

The Kennedy hybrid project reached financial closure in September this year, a power purchase agreement for a period of 10 years with CS Energy for all of its electricity and some of the Large-Scale Generation Certificates.

ARENA announced it is providing a AUD 18 million (US$14 million) recoupable grant. The project has been carried out by a venture between Windlab and Japan's Eurus Energy Holdings Corp, which will equally provide equity, while CEFC will provide AUD 93.5 million of debt finance. 

Located 20 km south east of Hughenden, just off the Flinders Highway, Kennedy hybrid energy project is comprised of 43.5 MW of wind, 15 MW of solar and 2 MW of Li-ion battery storage. It consist of 9 to 12 turbines depending on final selection and up to 200,000 solar panels. The solar panels will be single axis tracking, also 2MW of Li-ion storage will be also located on site. 

With the intention to demonstrate the bankability of large-scale, integrated hybrid renewable energy projects for the future, CEFC wind sector lead Andrew Gardner said:

"We expect such projects to become an increasingly important part of Australia's electricity system, with complementary battery storage addressing the intermittency of wind and solar generation to support grid stability" 

Roger Price, Windlab's executive chairman and chief executive said:

"The second phase of Kennedy, phase II or “Big Kennedy” as we like to call it, is 100% owned by Windlab and will provide up to 1,200MW of wind energy, critical in balancing the large amounts of solar generation that will be connected to the Queensland grid as it moves toward 50% renewable energy capacity"