Acciona and international metals group Korea Zinc have reached an agreement to jointly develop the 923MW MacIntyre Wind Farm in Queensland, Australia.
MacIntyre is one of the largest renewable energy projects in Australia, and the largest energy project in Acciona’s portfolio.
Under the agreement Ark Energy, a subsidiary of Korea Zinc, will take a 30% stake in MacIntyre Wind Farm, with Acciona retaining 70%.
The Spanish infrastructure company will remain responsible for managing the project through its development, construction, operations and maintenance stages.
Acciona has also secured a long-term PPA with CleanCo, Queensland’s newest public electricity company.
Under the deal, CleanCo will acquire the annual production from 400MW of Acciona’s facilities for ten years.
MacIntyre Wind Farm will also power Sun Metals Corporation, a Korea Zinc subsidiary in Australia, helping the metals group meet its target of obtaining 100% of its energy from renewables by 2040.
Acciona chairman and chief executive José Manuel Entrecanales said: “Having Korean Zinc as a partner in this landmark project is a privilege and marks a milestone in MacIntyre’s development.
“Our companies share a common goal to pioneer clean energy and this partnership is the perfect example of how two companies from different sectors can work together to deliver flagship renewables infrastructure.”
Korea Zinc chief executive Yun B. Choi added: “We are very pleased to have established a long-term relationship to carry out this exciting project, unique in its size, which represents a major step forward for our respective businesses.
“Our participation in the MacIntyre project reflects our commitment to renewable energy in Australia.”
In addition to the MacIntyre project, Acciona will build the 103MW Karara Wind Farm owned by CleanCo.
The wind farms are adjacent to each other.
Together, MacIntyre and Karara complex will generate clean electricity to supply nearly 700,000 homes and avoid the emission of around 3 million tonnes of CO2 each year.
The wind farms will install 180 Nordex Delta 4000 turbines.
Construction is slated to start in the second half of this year, with the lion’s share of investment in 2022 and 2023.
The wind farm complex will start operating in stages to ensure connection to the grid with full technical guarantees for the state electricity system.
The complex will be fully operational by 2024, Acciona added.