AGL Energy (AGL) today announced the 453 MW Coopers Gap wind farm is set to proceed to construction having achieved financial close with the sale of the project to the Powering Australian Renewables Fund (PARF). The project will be the largest wind farm in Australia on completion.
The PARF, which is a partnership between AGL, and QIC, on behalf of its clients the Future Fund and those invested in the QIC Global Infrastructure Fund, is targeting the development of approximately 1,000 MW of large-scale renewable energy projects.
Located at Cooranga North, approximately 250 kilometres north west of Brisbane, construction of the Coopers Gap wind farm is expected to start later this year and be completed by mid-2019.
AGL Manager Project Development, Evan Carless, said the $850 million (approx.) project will provide significant direct and indirect investment to the Cooranga North and surrounding region.
“Up to 200 jobs will be created during the peak of construction and up to 20 jobs once operational. We are excited about what this means for the local community during and post-construction.
“It’s also great to see the support AGL is getting from equity partners and lenders for these projects demonstrating the appetite for the private sector to invest in Australia’s energy transformation and support projects like this in regional communities.
“As the project has now achieved financial close and is moving from development to construction phase, AGL’s Tim Knill will assume responsibilities as Construction Project Manager for the wind farm,” said Mr Carless.
AGL has named a joint venture consisting of GE and Catcon as the successful tenderer for the engineering procurement contract. AGL and GE/Catcon will develop the wind farm.
The next Community Consultative Committee meeting will be held on Thursday 31 August, 1:00pm at the Cooranga North Hall. AGL looks forward to giving the community an update on the project and answer questions.
The Coopers Gap wind farm will produce approximately 1,510,000 MWh of renewable energy annually, which can power more than 260,000 Australian homes.
The renewable energy produced from the wind farm’s 123 turbines will reduce CO₂ emissions by 1,180,000 tonnes annually, which is the equivalent of taking 340,000 cars off the road.
AGL is committed to helping shape a sustainable energy future for Australia. We operate the country’s largest electricity generation portfolio, we’re its largest ASX-listed investor in renewable energy, and we have more than 3.5 million customer accounts. Proudly Australian, with more than 180 years of experience, we have a responsibility to provide sustainable, secure and affordable energy for our customers. Our aim is to prosper in a carbon-constrained world and build customer advocacy as our industry transforms. That’s why we have committed to exiting our coal-fired generation by 2050 and why we will continue to develop innovative solutions for our customers.