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The Federal Government of Australia through its Clean Energy Finance Corporation (CEFC) has partnered with Hostplus and Octopus Australia, a unit of Octopus Group, to finance and develop a billion-dollar renewable energy park in Victoria.
The Gippsland Renewable Energy Park (GREP) will feature wind turbine generators, solar photovoltaic, and battery energy storage systems. Future developments will also consider green hydrogen projects. The renewable energy park will be constructed on about a 3000-acre site.
Hostplus has committed AUD15 million (US$11.09 million) into the project to complement the AUD8.5 million (US$6.29 million) funding of CEFC.
