CWP Renewables has successfully secured a power purchase agreement (PPA) for its Crudine Ridge Wind Farm.
The 135MW project, located near Pyramul in New South Wales’ central west, is set to commence construction in April 2018.
Meridian Energy Australia has entered into a power purchase agreements (PPAs) with the project.
Comprising 37 wind turbine generators, the project will generate enough clean energy to power 52,000 homes and offset more than 325,000 tonnes of carbon emissions each year once constructed.
“We first identified the area in 2007 and through consistent and genuine engagement with the local community, councils and a wide array of stakeholders the project will now reach its potential”, CWP Renewables head of development Ed Mounsey said.
“The project is set to provide regional benefits by contributing over $160,000 per annum to Community Enhancement Funds established with mid-western and Bathurst Regional Councils, as well as upgrades to more than 20km of local council roads.”
Nineteen host landowners will benefit from rental income throughout the life of the project and neighbour agreements will help distribute funds to others in the local community.
ANZ have been selected as financial advisor on the deal with Norton Rose Fulbright performing the legal advisor role.
Construction consortium details are expected to be announced in the coming week.