A 20-year feed-in tariff for electricity has been granted by the Hornsdale Wind Farm Project (SA) to Australian company, Megawatt Capital Investments. Neoen, the company’s French partner will also share in this tariff.
The farm is located near the South Australian town of Jamestown, 200km north of Adelaide, and will be connected to the National Electricity Market. It has been approved for a total of up to 270MW, with 100MV in the first independent stage.
The wind project follows the ACT government’s Australian Capital Territory Wind Auction in November 2015, which was successful in providing incentives for the uptake of large-scale wind projects, resulting in less cost passed through to consumers.
The ACT has successfully leveraged its innovative approach to renewable energy by ensuring that the successful proponents under the Wind Auction make a substantial contribution to the economy of the Territory.
The Hornsdale Wind Farm will also partner with the Canberra Institute of Technology to establish The Renewable Energy Skills Centre of Excellence and ensure that the Centre is properly funded for 20 years.
This initiative is designed to meet the Wind Industry’s need for an experienced, skilled and local workforce for the operation and maintenance of wind farms.
With the success of the Hornsdale Wind Farm, Megawatt Capital Investments partner, Neoen, has decided to establish its Asia-Pacific Head-office for all its wind development activities in Canberra.
Neoen has also acquired more than 1GW of wind farm development sites from Investec Australia Limited and the Hornsdale Wind Farm will contribute to the ACT Renewable Energy fund, and in turn generate local employment.
Mark Schneider of Megawatt Capital Investments, said “Through their innovation, the ACT have assumed the mantle of renewable energy leadership for the nation, demonstrating that renewable energy can be sourced at a cost-competitive price.
“The ACT have timed their landmark renewable energy program perfectly, taking advantage of a buyer’s’ market created by the ongoing uncertainty surrounding the Commonwealth Renewable Energy Target.”
Managing Director of Neoen Australia, Franck Woitiez, said, “Neoen is proud to play an important part in assisting the ACT government to meet the goals of their renewable energy program. Hornsdale will deliver a substantial contribution to the achievement of the ACT’s 90 per cent renewable energy target.”