CBD Energy will hold the remaining 10 percent in the Taralga project, which will produce enough electricity to power 40,000 homes a year, the Sydney-based renewable energy developer said today in a statement. Taralga is Madrid-based Santander’s first Australian wind farm, according to CBD.
The project partners are “well advanced” in raising debt for the 106.8-megawatt venture, which has investment costs of about A$250 million. The project is completing arrangements with a preferred wind turbine supplier, according to the statement.
TRUenergy Holdings Pty Ltd., the Melbourne-based electricity company, agreed to buy all the power produced by the facility.
CBD said in a statement yesterday that the power purchase agreement with TRUenergy will deliver about A$300 million of “off-take value” to the project. Taralga, with development approval for 51 turbines, is expected to be completed in 2014, according to CBD.
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