Snowy Hydro and GPG, a joint venture of Naturgy Energy Group, SA (75%), and the Kuwait Investment Authority (25%), is set to build a 218 MW wind farm located at Victoria State, approximately 300 km from Melbourne in Australia.
The wind farm, called Ryan Corner, is estimated to require a total investment of AUD359 million (US$261.39 million) and is expected to start operations in the second half of 2022.
The contract awarded consists of a 15 years PPA contract for difference (power purchase agreement) for 75% of the energy produced. Given the characteristics of the awarded contract and the conditions of the Australian market, one of the most attractive countries to invest in renewables, the project fully complies with the investment and profitability criteria required by Naturgy for value creation.
