Global Power Generation (GPG), a joint venture between the Naturgy Energy Group (75 percent) and the Kuwait Investment Authority (25 percent), has been awarded a contract to construct a 107 MW wind farm approximately 150 kilometers from Melbourne.
In addition, and as part of the commitments related to the wind farm project, GPG has agreed to install a 20 MWh battery energy storage system located within the Australian Capital Territory to support the ACT distribution grid at the Queanbeian substation, in collaboration with TransGrid, the Transmission Network Service Provider in the area.
The wind farm, called Berrybank-Stage 2, will involve a total investment of approximately €131 million and will start operations in the second half of 2022.
The contract awarded is a 10-year Deed of Entitlement at a controlled tariff for energy equal to a capacity of 100 MW. Given the characteristics of the contract awarded and the conditions of the Australian sector, one of the most desirable countries to invest in renewables, the project completely complies with the investment and profitability requirements needed by Naturgy for the development of value.
Berrybank Stage-2 wind farm will be Naturgy’s fourth investment in Australia, through GPG. Including this project, Naturgy will reach a renewable capacity of approximately 600 MW in the region, together with the Crookwell 2 wind farm (96 MW), currently in operation, and Berrybank Stage-1 (180 MW), close to be operational and Ryan Corner (218 MW) recently awarded by Snowy Hydro.