EnergyAustralia has announced it signed a long-term agreement to buy 60 per cent of the renewable energy generated from the Bodangora wind farm.
Infigen Energy is developing the 113MW, 33-turbine wind farm, which is located near Wellington in New South Wales.
The agreement is the fourth EnergyAustralia has signed since its December announcement of a $1.5 billion program to buy power from new wind and solar energy projects across eastern Australia.
“We’re really pleased to add a quality project like Bodangora to our power purchase portfolio,” managing director Catherine Tanna said.
“The reality is these are the projects that will underpin Australia’s future energy mix and it’s up to us to provide the support they need to get built.
“EnergyAustralia owns two of the largest coal-fired power stations in the country which right now provides customers with reliable, affordable electricity.
“But over the next 20 years existing coal-fired plants will retire and the community is looking to companies like EnergyAustralia to show leadership in developing new supplies of cleaner, reliable and affordable energy.”
The power purchase program will contribute toward the Australian Government’s Renewable Energy Target to have 23.5 per cent of total energy in the national electricity market provided by renewable sources by 2020.
The 13-year Bodangora power purchase agreement will underpin financing and construction of the project.
Infigen Energy managing director Ross Rolfe said his company was looking forward to working with EnergyAustralia to expand its existing renewable energy portfolio.
“We are pleased to be able to announce this important step towards our goal of proceeding to construction of a new wind farm,” Mr Rolfe said.
“We are working diligently towards finalising other elements of the project in order to reach a near-term final investment decision and financial close.”
EnergyAustralia has now secured power purchase agreements for 285MW of renewable energy in less than three months, more than half way to its goal of 500MW.