AGL reaches financial close on 453MW wind project

The project cost is estimated at US$671.2m.

AGL has reached financial close on the sale to the Powering Australian Renewables Fund (PARF) of the 453MW Coopers Gap wind power project at Cooranga North in Australia, according to Enerdata. The wind park is developed under the Powering Australian Renewables Fund (PARF), a partnership between AGL (20%), QIC and Future Fund (80%), which is targeting the development of approximately 1,000 MW of large-scale renewable energy projects.

"Total investment is estimated at A$850m. The project will feature 123 turbines and is expected to generate 1.5 TWh/year of electricity, which will be delivered into the network through Powerlink's transmission line when the project comes on stream in 2020. Power generation will be sold at a bundled (i.e. including both electricity and associated renewable energy certificates) offtake price of less than A$60/MWh (real) for an initial five years," Enerdata said.

This story was originally published by Enerdata.