The consortium also includes Renewable Energy Systems (RES), Downer, Partners Group and OPTrust.

The A$450m ($348m) project will feature 75 wind turbines that are expected to generate enough energy for about 123,000 homes per year.

RES will manage the development, construction and commissioning of the project. GE has a 10-year service agreement to operate and maintain the facility once it starts operations.

The Australian Capital Territory Government has already agreed to buy about 40% of the energy generated by the wind farm, which is expected to be completed in 2017.

GE Australia, New Zealand and PNG president and CEO Geoff Culbert said: "The wind farm will have significant local impact. It will employ around 165 workers directly in the construction phase, another 120 indirectly, and is expected to inject at least $7 million – $8 million into the local economy around Ararat over two years.

"The project will also establish a local community fund which will inject over $2 million in support of good causes over its lifetime."

The deal follows restored bipartisan support for Australia’s renewable energy target to achieve a 33,000GWh of generating capacity by 2020.

Image: The 240MW Ararat wind farm in south-west Victoria will feature 75 turbines. Photo: courtesy of General Electric.