TagEnergy has commenced construction on Stage 2 of the Golden Plains Wind Farm in Victoria, Australia, following the successful financial close by TagEnergy for the AUS$4 billion project. The wind farm, which includes Stage 1's 756MW and Stage 2's 577MW, is projected to contribute 9% of Victoria's energy upon completion by mid-2027.
With all financing and agreements finalized, construction of Stage 2, featuring 93 wind turbine generators, is now underway. TagEnergy cited a favorable policy environment fostered by the Australian Government's Capacity Investment Scheme (CIS) as instrumental in moving the project forward.
Andrew Riggs, Managing Partner for Australia at TagEnergy, expressed pride in the project's scale and impact, stating, “We couldn't be prouder to be delivering the largest wind farm in the Southern Hemisphere. This mega-project materially improves Victoria's energy security, puts downward pressure on electricity costs and dramatically reduces carbon pollution.”
The project secured non-recourse finance from a consortium of global lenders specializing in clean energy transition, including institutions like the Clean Energy Finance Corporation, Commonwealth Bank of Australia, and international banks from Denmark, Japan, France, China, and Germany.
TagEnergy has extended its partnerships for Stage 2, engaging Vestas for turbine supply, AusNet Services for grid connection works, and WestWind Energy as the asset manager. Construction activities for Stage 1 are nearing completion, with 25% of turbines already erected and over 350 workers expected on site as both stages progress concurrently.
Riggs highlighted the supportive policy landscape enabled by the CIS scheme, stating, “The supportive policy landscape created by the CIS has given us confidence to start construction of Golden Plains Stage 2 now.” Stage 1 of the wind farm is slated to begin producing green energy by the first quarter of 2025, with Stage 2 following in mid-2027.
