Sale of first Australian wind farms to Epic Energy
The two wind farms, known as Timboon West and Yawong, are located in Western Victoria and were acquired by BayWa r.e. in 2017 as part of their investment in the Future Energy team and pipeline of wind and solar projects.
During 2018, BayWa r,e, contracted, financed and constructed the two projects with commercial operations achieved by the end of that year.
The projects have been sold with a 15-year O&M contract in place with Vestas and a PPA to sell 100% of the power to Alinta Energy until 2030.
With a combined capacity of 14.4MW generated from four Vestas V126 3.6 MW turbines, the wind farms will produce enough clean energy to power 9,000 Australian homes.
David Shapero, Managing Director of BayWa r.e. Wind Pty Ltd., said, “The sale of our first two Australian wind farms marks an important milestone in furthering our wind farm investment in both Australia and the wider APAC region. Having only started construction of these projects in March 2018, we are delighted to have these wind farms operational and sold in little more than a year. Of course, the Future Energy team were involved from much earlier, progressing the projects from greenfield and we are rapt to see the projects realised. The APAC region is an extremely important market for us and we are pleased to be advancing the region’s renewable energy credentials with these projects.”
BayWa r.e. will continue to support Epic Energy on the Timboon West and Yawong wind farms, providing ongoing technical management in the immediate term through its team in Melbourne.
“We’re really pleased to have secured the deal with Epic Energy. We look forward to developing an ongoing relationship with them and, through our services team, ensuring that both wind farms continue to operate at peak efficiency and make a positive contribution to Australia’s wind energy market long into the future,” added Mr Shapero.
Clive D’Cruz, Chief Executive Officer of Epic Energy, said “As Epic Energy’s first investment in renewable energy, the Timboon West and Yawong wind farms mark an important new chapter in our company’s history. As a long term owner and operator of energy infrastructure, we are excited to leverage our knowledge, experience and capabilities to meet Australia’s transitioning energy needs, and look forward to continuing to work with BayWa r.e. and building on the relationship established through this acquisition."
Across the globe, BayWa r.e. has brought over 2,500 MW of wind and solar projects online and its plans are no less ambitious for Australia, with further wind and solar farms in development and construction. BayWa r.e.’s Yatpool solar farm is expected to be operational by the end of 2019.
BayWa r.e. is investing heavily in the APAC renewable energy market. In addition to the development of these Australian renewable energy projects, it also has projects in development and construction in Malaysia and Japan, and is continuing to seek development opportunities in Vietnam, South Korea, Taiwan, Indonesia, Thailand and the Philippines.