CWP Renewables has successfully secured a power purchase agreement (PPA) for its Crudine Ridge Wind Farm, and is set to commence construction in April 2018.
The 135 MW project, located near Pyramul, 45 km south of Mudgee in the Central West, NSW, has agreed an energy offtake with Meridian Energy Australia, owners of retailer Powershop.
Comprising 37 wind turbine generators, the project will generate enough clean energy to power 52,000 homes and offset over 325,000 tonnes of carbon emissions each year once constructed.
“We first identified the area in 2007 and through consistent and genuine engagement with the local community, Councils and a wide array of stakeholders the project will now reach its potential”, said Mr Ed Mounsey, Head of Development of CWP Renewables.
Mr. Mounsey commented that “the project is set to provide regional benefits by contributing over $160,000 per annum to Community Enhancement Funds established with Mid-western and Bathurst Regional Councils, as well as upgrades to over 20 km of local Council roads.” 19 host landowners will benefit from rental income throughout the life of the Project and Neighbour Agreements will help distribute funds to others in the local community. 75 full time equivalent jobs are expected to be created during construction which will stimulate further investment in local businesses and services.
ANZ have been selected as financial advisor on the deal with Norton Rose Fulbright performing the legal advisor role. Construction consortium details are expected to be announced in the coming weeks.
CWP Renewables is an Australian renewable energy developer and asset manager of wind, solar and integrated storage solutions. To date the company has developed and financed 383 MW and of wind farm projects, operates 490 MW, and holds a differentiated pipeline of over 2,000 MW of new projects, including further wind and solar developments within the NEM and the Asian Renewable Energy Hub.