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Hornsdale Wind Farm achieves financial close

Released 20/08/2015

News that Hornsdale Wind Farm has reached financial close, with all finances now in place to move to the construction phase of the project, was welcomed today by Minister for the Environment Simon Corbell.

“The first ACT wind auction today celebrates a milestone, as all three successful wind farms are now moving into construction phase,” Mr Corbell said.

From 2017, more than a quarter of Canberra’s total electricity supply will be sourced from the three wind farms selected through the ACT’s first 200 megawatt wind auction program. Wind energy will play a key role in the ACT meeting its target of sourcing 90% of Canberra's electricity from renewable sources by 2020.

“It is pleasing to see that the three projects are progressing with support of local communities. Neoen, RES and Windlab are to be commended for their positive engagement of local communities, showing that regional communities are embracing wind energy as a way of diversifying regional economies,” Mr Corbell said.

Hornsdale Wind Farm will be located 90km south-east of Port Augusta in South Australia and will supply 100 megawatts of wind energy to the Canberra community. The project is being developed by Neoen, a French based renewable energy company, and Megawatt Capital Investments, an Australian company.

Asset management and market settlement functions will be delivered from Neoen’s new wind operations centre in Canberra that will support its Asia-Pacific wind energy business including a 1,500 megawatt portfolio of Australian wind energy projects.

Financial close is the latest significant milestone for Neoen on their Hornsdale project following their engineering, procurement and construction contract signing last week with Siemens.

Siemens Australia head of energy David Pryke said the project demonstrated a win-win for all stakeholders.

“The new Hornsdale wind farm is good for the economy, good for the environment and, importantly, good for the ACT,” Mr Pryke said.

“What matters to Australia also matters to Siemens and I’m delighted that Neoen entrusted Siemens to build and maintain the Hornsdale wind farm.

And through this project we can demonstrate what can be achieved when combining Siemens’ global technology with the ACT’s commitment to renewable energy, Australia’s natural resources and Neoen’s vision.”

Hornsdale Wind Farm on-site construction works are due to start in January 2016 and finish in April 2017.

Source: Cmtedd


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