Transaction Takeaway: Kennedy Energy Park
With the support of an AUS$94 million senior secured loan from Australia’s Clean Energy Finance Corporation, construction has started at Australia’s first fully integrated wind, solar, and battery project at the central north Queensland Kennedy Energy Park.
The AUS$160 million project, developed by Windlab Limited and Eurus Energy Holdings Corporation, just outside Hughenden in Central Queensland, integrates 43 MW of wind, 15 MW (AC) of solar, and 2 MW of lithiumion battery storage. It will be capable of generating enough power for more than 30,000 average homes and will provide electricity to remote outback communities from Julia Creek to Charters Towers more than 500 kilometers away.
Windlab identified the location in 2013 and completed much of the early-stage development before selecting its joint venture partner, Eurus Energy Holdings Corporation, in 2015. The project received all necessary development approvals in 2017.
Kennedy Energy Park will take 12 months to construct and is expected to be fully operational before the end of 2018.
The Green Bank Network’s “Transaction Takeaways” series highlights notable features of Green Bank deals