Origin Energy has entered into an agreement with Virya Energy to acquire its Yanco Delta Wind Farm, one of the largest and most advanced wind and energy storage projects in New South Wales.
Related article: 1.5GW Yanco Delta Wind Farm gets government go-ahead
Yanco Delta is in the New South Wales Government-designated South West Renewable Energy Zone (REZ), and consists of a 1.5GW wind farm and a 800MWh battery. The project is strategically located next to key transmission infrastructure.
The wind farm development is located on a 33,000ha site 10km north-west of Jerilderie in the Riverina district. The project has received both New South Wales Government development approval and EPBC approval.
Origin CEO Frank Calabria said, “Yanco Delta is a large-scale, advanced and therefore highly strategic wind development project. With the key planning and regulatory approvals secured, and with significant plans for supporting infrastructure and transmission in place, the acquisition of Yanco Delta represents a major step forward in our journey to transition Origin’s portfolio to cleaner energy.
“Origin has made rapid progress in building out a portfolio of renewable and storage projects at varying stages of development, and Yanco Delta represents a unique opportunity to bring a material volume of renewable energy supply into the market relatively quickly, to help meet the needs of our customers.
“Strategically located in the South West REZ, Yanco Delta is a quality wind resource that provides benefits of scale. We look forward to working closely with the local community and other stakeholders and bringing Origin’s expertise and track record in developing large scale energy projects to progress this project to construction,” Calabria said.
The acquisition deal consists of an upfront payment of $125 million to Virya Energy and an additional variable payment of up to $175 million conditional on the project achieving certain development milestones.
Related article: Origin acquires renewables developer Walcha Energy
Origin’s portfolio of renewable and storage projects includes Walcha Energy’s proposed Ruby Hills Wind Farm and Salisbury Solar Farm projects in the New England REZ, with a planned capacity of more than 1.3GW. Nearby, Origin has also acquired Warrane, a 500MW greenfield development opportunity now known as the Northern Tablelands Wind Farm, while progress continues on large-scale batteries at Eraring and Mortlake power stations.
