Telstra, ANZ, Coca-Cola Amatil and The University of Melbourne have joined forces to pre-purchase the energy generated from what will be the largest wind farm in the southern hemisphere.
The group has secured the energy generated from RES and Macquarie Capital’s Murra Warra wind farm, near Horsham in Victoria, at a locked-in price.
The deal will help the fledgling wind farm get off the ground while securing the companies’ future access to enough renewable energy to power the equivalent of 220,000 homes, significantly lowering their emissions.
RES chief executive Matt Rebbeck said the consortium’s support would underwrite the first stage of the project.
Macquarie Capital head Tim Bishop said ANZ, Telstra, Coca-Cola Amatil and The University of Melbourne’s backing was aiding ‘s move to a lower-emissions future.
“Increasingly, large users of energy are contracting directly with renewable energy producers and we see this direct engagement as a meaningful contributor to the world’s transition to a lower carbon economy,” Mr Bishop said.
Telstra energy executive director Ben Burge said ANZ, Coca-Cola Amatil and the University of Melbourne were demonstrating how to collaborate in the growing renewable energy space.
As part of the deal, Telstra will provide energy market services to the rest of the consortium.
The Murra Murra wind farm will generate around 226 megawatts in its first stage and will have up to 116 turbines and an eventual potential output of about 429 megawatts.
According to RES, the turbines will be up to 220 metres in height.
RES said the wind farm was forecast to be operational by 2020, while Telstra said it expected it to begin generating power in 2019.
It will reduce carbon emissions by around 900,000 tonnes per annum.
At its first stage of construction, which begins next year, the farm will be the sixth largest in . By its completion date, it will be the largest in the country, with nine more megawatts of power than the next largest site, the 140 turbine Macarthur Wind Farm, which is located about 130 kilometres south in Hamilton, Victoria.
RES constructed the 75-turbine Ararat wind farm in Victoria.