TagEnergy has signed a deal to sell 40% of the energy and green certificates generated by the 756MW first stage of its Golden Plains wind farm in Australia to Snowy Hydro.
This transaction is the first power purchase agreement for the Golden Plains Wind Farm since the first stage of the 1300MW mega project near Geelong, Victoria achieved financial close in November 2022 on a merchant basis.
It comes as TagEnergy negotiates further PPAs for the project that has generated significant interest for its quality and location.
The 122 turbine first stage is expected to start producing renewable energy in the first quarter of 2025.
Franck Woitiez, TagEnergy CEO said achieving financial close of Golden Plains Wind Farm East without the need for PPAs proved the effectiveness of its innovative investment approach.
“Now, this landmark PPA with Snowy Hydro proves our strategy to progressively contract the energy production during construction and operation. It also reflects the confidence major industry players like Snowy Hydro have in our large-scale renewables project expertise,” Woitiez said.
“We are proud to enter this agreement with Snowy Hydro as we both work to ensure energy security and accelerate the transition to renewable energy as part of a rapidly growing industry,” he added.