Works have commenced on stage 2 of the 1333MW Golden Plains Wind Farm in Victoria, Australia, after TagEnergy reached financial close on the second stage of its AUS$4bn project.
The project, comprising the 756MW Stage 1 and 577MW Stage 2, will deliver 9% of Victoria’s energy when completed in mid-2027.
With finance and all agreements now in place, construction of Stage 2’s 93 wind turbine generators will begin, with TagEnergy buoyed by the supportive policy environment created by the Australian Government’s Capacity Investment Scheme (CIS).
TagEnergy secured non-recourse finance from a global group of clean energy transition lenders comprising Australia’s green bank, the Clean Energy Finance Corporation, Commonwealth Bank of Australia, Westpac, Denmark’s Export & Investment Fund, Japan’s Mizuho Bank, France’s Natixis Bank, the Bank of China and Germany’s Deutsche Bank.
Extending its initial project partnerships into the next phase, TagEnergy has entered into a new EPC contract with global turbine supplier Vestas, appointed AusNet Services to undertake the grid connection works and WestWind Energy as the asset manager.
Commencement of work on Stage 2 occurs as the civil balance of plant works on Stage 1 nears completionand 25% of Stage 1’s turbines have been erected.
With both stages now underway more than 350 people are expected to be working on site, TagEnergy said.
TagEnergy’s managing partner for Australia Andrew Riggs said: “We couldn’t be prouder to be delivering the largest wind farm in the Southern Hemisphere.
“This mega-project materially improves Victoria’s energy security, puts downward pressure on electricitycosts and dramatically reduces carbon pollution. Together with our partners, we are accelerating the energy transition.”
TagEnergy’s decision to commence construction of Stage 2 reflects the new supportive policy landscape enabled by the government’s CIS scheme encouraging investment in renewable energy generation.
He said: “The supportive policy landscape created by the CIS has given us confidence to start construction of Golden Plains Stage 2 now.
“Commencing construction will maximise project delivery certainty and strengthen the competitiveness of our bid in the upcoming CIS auction.
“Our Stage 1 construction progress has been excellent and demonstratesour ability to deliver. These site teams, who will also construct Stage 2, really share our vision for a clean energy future.”
TagEnergy praised the Australian Energy Market Operator (AEMO) for the pace of the assessment and approval process for grid connection.
Riggs said: “The diligence and expertise of the grid connection teams at Vestas and AEMO Victoria who leveraged best practices developed during the adjacent 756MW Golden Plains Wind Farm Stage 1 connection process reduced the assessment period from nine months to five months.
“This significant achievement is a great contribution to the speed and economics of Australia’s energy transition.”
Golden Plains Wind Farm Stage 1 is expected to start producing green energy in the first quarter of 2025, with Stage 2 to follow in mid-2027.