The 200 MW Silverton wind farm in western New South Wales is set to move into the construction phase after AGL reached financial close on the sale of the project with the Powering Australian Renewables Fund (PARF), and awarded its construction contract.
The PARF is a partnership between AGL, QIC and Future Fund, which is targeting the development of approximately 1,000 MW of large-scale renewable energy projects.
AGL named a joint venture consisting of GE and CATCON as the successful tenderer for the engineering, procurement construction of the wind farm.
AGL’s Silverton Wind Farm Project Manager, Adam Mackett, said achieving financial close was great news for the approximately $450 million project, which will provide a significant economic investment to the local region.
“Achieving financial close on the development of the Silverton wind farm is a major project milestone and we are very thankful for the support we have received from the local community during the development phase.
“Up to 150 jobs will be created during the peak of construction and we are excited about developing another project in the local area following the successful completion of the Broken Hill solar plant.
“The Silverton wind farm project is PARF’s first greenfield renewable development which further strengthens AGL’s credentials as Australia’s largest investor, developer and operator of renewables,” Mr Mackett said.
The 200 MW Silverton wind farm will produce approximately 780,000 MWh of renewable energy annually, which can power more than 137,000 average Australian homes.
The renewable energy produced from the wind farm’s 58 turbines will reduce CO2 emissions by 655,000 tonnes annually, which is the equivalent of taking 192,000 cars off the road each year.
The Silverton wind farm is predicted to be fully operational by the middle of 2018.