On 14 March the Murra Warra Wind Farm reached financial close, allowing the construction of Stage One to begin.
The farm, located 30km from Horsham in Victoria, will feature 61 turbines in its Stage One project, reaching 226MW of nameplate capacity.
The construction of Stage One will generate approximately 150 jobs in regional Victoria, and once operational permanent maintenance and monitoring jobs will be created – the farm is anticipated to be operational by the middle of 2019.
The equity finance for Stage One has been provided by RES and Macquarie Capital.
Debt financing for the project is valued at AU$320mn (US$248.4mn), supplied by a consortium of ANZ, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation, and Westpac Banking Corporation.
“The Murra Warra Wind Farm is a world class project which once constructed will be one of the highest performing wind farms in the southern hemisphere,” said Matt Rebbeck, CEO of RES Australia.
“We are proud to be making this important contribution to the regional Victorian economy.”
“We have developed a strong relationship with the local community and look forward to continuing to engage with community stakeholders as we enter into the construction phase for Stage One.”