Octopus Australia enters deal with RES Group for 180 MW wind project acquisition in Queensland

Octopus Australia, a unit of Octopus Group, has entered into a deal with RES Group to acquire the 181 MW Dulacca wind farm project located in Queensland, Australia.

The project consists of 43 V150-4.2 MW wind turbines supplied by Denmark’s Vestas Wind Systems A/S, installed in about 8,000 hectares of the land area. Vestas will provide equipment service to the project under a 30-year Active Output Management 5000 (AOM 5000) agreement. Once operational, the project will supply its output to publicly-owned energy generator CleanCo Queensland. 

Debt financing was arranged from a banking consortium including CBA, ING, MUFG, SMBC, and Westpac.