$450 million for Australia's third-largest wind farm

A global consortium comprising Renewable Energy Systems (RES), GE and Downer has announced a $450 million contract for the supply of 75 wind turbines to the 240 MW Ararat Wind Farm in south-west Victoria, projected to be the third-largest wind farm in Australia. The project was awarded under the ACT’s wind energy reverse auction in February.

To be financed by shareholders Partners Group, RES, OPTrust and GE, the project benefits from a power purchase agreement with the ACT Government, guaranteeing the purchase of approximately 40% of the energy produced at the site. It will have a life span of 25 years and will generate enough electricity to power the equivalent of around 123,000 homes per annum, or approximately 6% of Victoria’s households.

“The wind farm will have significant local impact,” said Geoff Culbert, president and CEO, GE Australia, New Zealand and PNG. “It will employ around 165 workers directly in the construction phase, another 120 indirectly, and is expected to inject at least $7-8 million into the local economy around Ararat over two years. The project will also establish a local community fund which will inject over $2 million in support of good causes over its lifetime.”

“RES would like to thank the local community for its support throughout the project’s development,” said Matt Rebbeck, chief operating officer for Australia at RES. “Also, we would like to thank the ACT Government for its foresight in establishing innovative policies that are delivering low-cost clean energy projects.

“The Ararat Wind Farm will also be partnering with ACT researchers and institutions on projects that will potentially have global applications and support the ACT as a positive place for renewable energy companies to invest,” Rebbeck continued.

Culbert said the resolution of the Renewable Energy Target (RET) was a driving force in enabling the consortium’s decision, stating, “With certainty comes investment.

“I congratulate both the Coalition and the ALP on restoring the policy certainty needed to enable investment and job creation,” Culbert said. “This decision has immediately unlocked half a billion dollars of direct foreign investment into Australia.”

Benjamin Haan, managing director and head of private infrastructure, Asia-Pacific, Partners Group, added that the increased certainty around the RET “will require a substantial build-out of renewables in the coming years”.

According to Haan, the wind farm is exactly the kind of project Australia needs. He said, “The wind farm will make a great contribution not only to the local community in Ararat, in the form of employment, education and investment, but also to the future of renewable energy in Australia.”

Construction of the Ararat Wind Farm is expected to span two years, with power delivered to the grid from April 2017.

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