Powering Australian Renewables Fund (PARF), a partnership created by AGL, has commenced construction on the $850m Coopers Gap wind power project in Australia.
PARF is a partnership between AGL with 20% stake and QIC with 80% interest on behalf of clients the Future Fund and the QIC Global Infrastructure Fund.
The partnership aims to develop approximately 1,000MW of renewable energy projects, which will be operated and managed by AGL.
Located approximately 250km west of Brisbane, the 453MW project will feature 123 wind turbines which will be able to produce approximately 1,510,000MWh of renewable energy annually.
The project will generate clean electricity required to power more than 260,000 average Australian homes once fully operational scheduled in mid-2019.
AGL power development general manager Dave Johnson said that the 453MW project is expected to create up to 200 jobs during the peak of construction phase. The project achieved final investment decision in August 2017.
“AGL, together with PARF, is excited about the works and we will be working closely with the GE – Catcon consortium to ensure a successful project outcome for all stakeholders.
Australian Energy Minister Anthony Lynham said that the Coopers Gap Wind Farm, along with 10 other approved solar projects in the region, would have major benefits for Queensland.
Lynham added: "Together, they represent more than 2000 megawatts of renewable energy that will help power Queensland's electricity grid and its regional economies, and help us meet our international emissions reduction commitments.
The renewable energy produced from the wind farm is expected to reduce CO2 emissions by 1,180,000 tonnes annually.
Image: PARF aims to develop approximately 1,000MW of renewable energy projects. Photo: courtesy of tawatchai/FreeDigitalPhotos.net.