Australian renewable energy company TagEnergy has awarded Vestas an Engineering, Procurement and Construction (EPC) contract for the first stage of Golden Plains wind farm.

The Golden Plains is a 1,300MW large-scale wind farm project located in Rokewood near Geelong, southwest of Melbourne, Australia.

It also includes a 300MW battery storage facility, and will be connected to the energy grid through a high-voltage 500kV power line that runs through the southern section of the site.

Under the EPC contract, Vestas will provide the 756MW initial stage of the project with 122 of its V162-6.2MW wind turbines, from its EnVentus platform.

The stage one Golden Plains wind farm project has already reached financial close, with construction is expected to begin early in 2023, entailing $2bn investment.

It is expected to be completed in the first quarter of 2025.

TagEnergy CEO Franck Woitiez said: “Achieving financial close without the need for power purchase agreements (PPAs) proved the effectiveness of the company’s innovative investment approach in a rapidly growing renewable energy industry as the world races to net zero carbon emissions.

“The broad acceptance of our unusual and more commercial investment model by major participants and financiers reflects a fast-maturing industry embracing inventive approaches helping speed both project timelines and the transition to clean energy.

“Financial close for Stage One is a major milestone for the Golden Plains Wind Farm and our commitment to the Australian market as we work with our partners to help realise Victoria’s and Australia’s renewable energy ambitions.”

Earlier this year, TagEnergy has appointed Vestas as preferred EPC contractor for the project, and has also signed an early works agreement with the turbine developer.

The agreement enabled detailed design work, procurement of critical infrastructure, and additional upgrades to the road to support construction of the wind farm, said the company.

Once completed, Golden Plains project will be the largest wind farm in Australia, providing clean energy for more than 750,000 households.

TagEnergy has appointed AusNet Services for the grid connection works, and has signed a grid connection agreement with the Australian Energy Market Operator (AEMO).

Together with its partner Westwind, the company aims to develop the more than 500MW second stage and the 300MW battery at Golden Plains wind farm.

Furthermore, it has secured non-recourse finance from Australia’s green bank, the Clean Energy Finance Corporation, Commonwealth Bank of Australia, Westpac, Denmark’s EKF, Germany’s KfW IPEX-Bank, Japan’s Mizuho Bank and Bank of China.