Skip to main content

Developer TagEnergy secures financing for Australia’s largest wind and battery storage project

November 30, 2022

Renew Economy:

Construction of the first stage of what will be Australia’s biggest wind and battery project will get underway in the new year, after the project’s developers reached an “innovative” financial close on the gigawatt-scale project – no power purchase agreements required.

The Golden Plains Wind Farm proposes to install a total of up to 1300MW of capacity and a 300MW big battery (storage not yet specified) near Rokewood, around 60km north-west of Geelong.

The first 756MW phase of the “mega-project” – fully owned by TagEnergy — will be the biggest wind farm in Victoria, overtaking the 530MW Stockyard Hill facility and is now slated to begin construction in early 2023.

The green light came after the project landed a unique financing deal: It will be the first fully merchant wind farm in Australia to be financed by commercial lenders.

The Clean Energy Finance Corporation (CEFC) has committed up to $175 million to develop Stage 1 of the huge project, marking the single largest investment in a wind farm by the federal government’s green bank.

[Sophie Vorrath]

More: Unique finance deal paves way for Australia's biggest wind and battery project

Join our newsletter

Keep up to date with all the latest from IEEFA