This article is from the Australian Property Journal archive
QUEENSLAND Government-owned energy generator Stanwell has acquired the Tarong West Wind Farm from global renewable energy developer RES, giving it control of the major 436.5 megawatt wind project in the South Burnett region.
The acquisition follows recent development approval of the project by the Miles government, which is backing the project with $776.1 million in funding committed to date.
The project will feature 97 wind turbines and produce enough clean energy to power the equivalent of 230,000 homes. It will create around 200 construction and 15 operational jobs.
Stanwell CEO Michael O’Rourke and RES CEO Matt Rebbeck signed the historic agreement.
“Tarong West Wind Farm will be Australia’s largest publicly owned wind farm, which is a game changer for Queensland’s renewable energy future,” said Minister for Energy and Clean Economy Jobs, Mick de Brenni.
“This critical project will deliver not only enough clean energy to power the equivalent of 230,000 homes but it will bring an economic boost to the South Burnett with hundreds of clean energy jobs.
“Queensland assets in Queensland hands is how we have kept power prices down and it’s how we are going to achieve our renewable energy targets of 70% by 2032 and 80% by 2035.”
Stanwell CEO Michael O’Rourke said the acquisition will play a critical role in transitioning its energy portfolio and brings it closer to its goal of having 9 to 10 gigawatts of large-scale wind and solar capacity by 2035.
Stanwell now has more than 4000 MW of renewable energy and storage in its portfolio under contract, in development or under construction.
“We will continue to work constructively with RES and in close consultation with the South Burnett community, which we have been a proud part of for four decades, as we develop this project through to final investment decision.”
The final investment decision is expected in 2025.
