The wind farm will be constructed under a joint venture between AGL and Meridian Energy. AGL will take all of the farm’s energy output and renewable energy certificates. The move follows the federal government’s announcement of proposed changes to the operation of the renewable energy target (RET) scheme.
The contractual arrangements are subject to several conditions precedent, including approval by the boards of the joint venture partners. A key consideration of AGL’s board in approving the transaction will be around the final form of the legislation to give effect to the federal government’s changes to the RET scheme, the company said.
When constructed, the Macarthur wind farm will comprise 174 Suzlon S88 turbines for a total capacity of 365MW, which is expected to deliver approximately 945GWh of electricity each year. Construction is expected to take approximately three years from the time the conditions precedent have been satisfied.
