Tilt Renewables, part of the Powering Australian Renewables (PowAR) Group, has announced that construction of the Rye Park Wind Farm (RPWF), the largest ever to be built in New South Wales, will commence this year after achieving financial close.
The 392 megawatt (MW) Rye Park Wind Farm is located to the Yass and east of Boorowa, NSW and in the vicinity of the township of Rye Park.
About 55 per cent of production from the RPWF has been contracted under a 15-year power purchase agreement with Newcrest Mining Limited for the supply of electricity and green products to its Cadia Gold Mine. The agreement will also assist Newcrest to achieve its corporate emissions reduction target.
Construction on the project is expected to commence in the fourth quarter of 2021 under a multi-contract structure. Vestas has been contracted for turbine supply and installation, Zenviron has been contracted for the electrical and civil balance of plant and Lumea has been contracted for grid connection services.
The project is forecast to create roughly 250 jobs during its construction phase and up to 10 ongoing regional jobs during its operational life.
PowAR Chief Executive Officer, Geoff Dutaillis, said achieving financial close on Rye Park represents a significant milestone for the company following the completion of the Tilt Renewables acquisition less than one month ago.
“This is considered the first of many investment decisions that will be made over the coming years as the combined business looks to build out the Tilt Renewables development pipeline, which we consider to be the best in the market,” Mr Dutaillis said.
“We are very pleased to be able to continue our long-standing relationship with our trusted delivery partners, Vestas and Zenviron, to work with our valued customer Newcrest and to further enhance our relationship with Lumea given the strategic importance of the RPWF and our pipeline of development opportunities in NSW.”
“The RPWF will be coming online very soon after the foreshadowed closure of the Liddell Power Station in NSW, supporting the transition to a cost-effective, clean energy system and helping the state reach its important energy and environmental ambitions.”