RES achieves financial close for first phase of Murra Warra wind farm in Australia

15 March 2018 (Last Updated June 10th, 2020 15:43)

UK-based Renewable Energy Systems (RES) has revealed that the first stage of Australia's Murra Warra Wind Farm has started construction after achieving financial close.

UK-based Renewable Energy Systems (RES) has revealed that the first stage of Australia’s Murra Warra Wind Farm has started construction after achieving financial close.

The first stage will see the installation of 61 turbines and generation of 226MW of wind energy.

RES and Macquarie Capital will be providing equity finance for the first stage of Murra Warra Wind Farm project, which is located in Horsham, Victoria.

A debt finance of nearly A$320m ($251m) has also been secured for this stage through a consortium of international banks.

RES Australia chief executive officer Matt Rebbeck said: “The Murra Warra Wind Farm is a world-class project, which, once constructed, will be one of the highest performing wind farms in the southern hemisphere.

“We are proud to be making this important contribution to the regional Victorian economy. We have developed a strong relationship with the local community and look forward to continuing to engage with community stakeholders as we enter into the construction phase for stage one.”

“The Murra Warra Wind Farm is a world-class project, which, once constructed, will be one of the highest performing wind farms in the southern hemisphere.”

RES has awarded the construction contracts to the German turbine manufacturer Senvion, and Australia’s civil and electrical contractor Downer.

The project will be linked to the grid network through a new terminal station that will be built and operated by AusNet services.

Slated for completion by mid-next year, the first stage of construction will also create 150 new regional jobs.

When completely operational, the first phase of the project is expected to generate enough energy to power 220,000 Victorian homes and decrease carbon emissions by nearly 900,000t/y.

Going forward, RES and Macquarie Capital will also develop the second phase of the Murra Warra project, which will feature 55 turbines and will have a capacity of 203MW.

Upon completion of phases one and two, the Murra Warra wind project will comprise 116 turbines and have a total capacity of 429MW.