Under the contract, RES will commission the project, while GE will be responsible for ongoing operations and maintenance under a ten-year service agreement.
The deal follows restored bipartisan support for the country’s Renewable Energy Target (RET) to achieve a 33,000GWh capacity by 2020.
Planned to be developed in south-west Victoria, the $450m project will be financed by shareholders of Swiss investment manager Partners Group, RES, Canada’s OPSEU Pension Trust (OPTrust) and GE.
The Australian Capital Territory Government (ACT) will purchase approximately 40% of power generated by the plant, under a power purchase agreement.
With an operational life of 25 years, the Ararat wind farm is designed to serve around 123,000 homes annually.
GE Australia, New Zealand and Papua New Guinea president and CEO Geoff Culbert said: "The project will employ around 165 workers directly in the construction phase, another 120 indirectly, and is expected to inject at least $7m – $8m into the local economy around Ararat over two years."
The wind farm is scheduled to start operations in April 2017.
RES Australia CEO Matt Rebbeck said: "The Ararat Wind Farm will be partnering with ACT researchers and institutions on projects that will potentially have global applications and support the ACT as a positive place for renewable energy companies to invest plus a positive model for other states to follow in unlocking the potential of clean energy projects in Australia."
