- TagEnergy obtains non-recourse financing from a global consortium for Stage 2 of the AUD 4 billion Golden Plains wind project.
- Vestas will supply turbines, AusNet Services will handle grid connection, and West Wind Energy will manage assets.
- Stage 2 will add 577 MW with 93 turbines; Stage 1 expects to start power production in early 2025.
TagEnergy has secured financial backing for the second phase of the AUD 4 billion (USD 2.65 billion, EUR 2.47 billion) Golden Plains wind project. The company will soon commence construction on this significant development.
A global consortium of lenders, including the Clean Energy Finance Corporation (CEFC), Commonwealth Bank of Australia, Westpac, Denmark’s Export & Investment Fund, Japan’s Mizuho Bank, France’s Natixis Bank, the Bank of China, and Germany’s Deutsche Bank, provided non-recourse funding.
TagEnergy signed a new Engineering, Procurement, and Construction (EPC) contract with turbine supplier Vestas. AusNet Services will handle grid connection, and West Wind Energy will manage asset operations.
TagEnergy’s decision to start Stage 2 construction reflects Australia’s new supportive energy policies. The company praised the Australian Energy Market Operator (AEMO) for speeding up the grid connection approval process. CEFC CEO Ian Learmonth noted that the funding allows Stage 2 construction to begin even without a power purchase agreement (PPA).
The Golden Plains wind farm, with a total capacity of 1,333 MW, will become the largest in the Southern Hemisphere. Stage 2 will add 93 turbines, contributing 577 MW.
Stage 1 is progressing well. Crews have nearly completed civil works and installed 25% of the turbines. TagEnergy expects this phase to start power production in early 2025. The company plans to complete Stage 2 by mid-2027.
(AUD 1.0 = USD 0.664 / EUR 0.618)