The partnership behind NSW’s largest wind farm, CWP Renewables (“CWP”) and global private markets investment manager Partners Group, today announces the commencement of a second large wind farm together in the State, the Crudine Ridge Wind Farm, which will be located 45km south of Mudgee.
With Sapphire Wind Farm and Crudine Ridge Wind Farm, CWP and Partners Group have over 400MW currently under construction in NSW. Moreover, the two companies have committed to work together to deliver CWP’s entire renewable energy project portfolio, which encompasses large-scale wind, solar and battery projects in NSW with a combined capacity of over 1,300MW. The annual generation from this portfolio is equivalent to approximately 50% of the coal-powered Liddell Power Station.
The portfolio, which will be known as Grassroots Renewable Energy Platform (“Grassroots”), will be constructed progressively over the next four years and will create many high-value jobs in regional areas. Partners Group will invest $700m into Grassroots on behalf of its clients. The Clean Energy Finance Corporation (CEFC), Westpac and Sumitomo Mitsui Banking Corporation (SMBC) have provided debt funding for the Crudine Ridge Wind Farm.
“These projects will help with the transition away from fossil-fuelled electricity in the State”, said CWP Renewables’ CEO, Mr Alex Hewitt. “Significantly, our portfolio combines the benefits of wind and solar generation with large scale batteries, allowing morning and evening wind generation to be combined with daytime solar generation and battery energy storage. This is the future of large scale generation in Australia. We can, from this large portfolio, produce 24/7 baseload renewable power at very competitive prices”.