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    NTGY   ES0116870314

NATURGY ENERGY GROUP, S.A.

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Naturgy Energy S A : signs power purchase agreement (PPA) with Telstra to build 58 MW wind farm in New South Wales, Australia

06/11/2021 | 06:20am EDT
Naturgy signs power purchase agreement (PPA) with Telstra to build 58 MW wind farm in New South Wales, Australia
  • The Crookwell 3 wind farm is designed to generate enough energy to power 40,000 households.
  • Naturgy's subsidiary GPG is one of the top 3 independent renewable energy companies in Australia. Agreement reflects Naturgy's commitment to contributing to the growth of renewable energy industry in Australia.
  • GPG will invest approximately AUD120m (equivalent to approximately €76m) to develop the Crookwell 3 wind farm.
  • Crookwell 3 is the sixth wind farm developed by GPG in Australia and the third that is backed by a Corporate PPA. With Crookwell 3, GPG's portfolio of wind farms with secured PPAs will increase to over 750MW.


Telstra and Naturgy, through its international power generation subsidiary Global Power Generation (GPG), announced today they have signed a power purchase agreement (PPA) to build a 58 megawatt (MW) wind farm located near Goulburn in New South Wales. The wind farm, called Crookwell 3, will commence construction in the last quarter of 2021 and is expected to be fully operational in the first half of 2023. GPG will invest approximately AUD120 million (equivalent to approximately €76 million) to develop the Crookwell 3 wind farm.

Under the long term PPA, Telstra has committed to procure 80% of the energy generated by the wind farm. The project fully complies with Naturgy's investment and profitability criteria.

GPG CEO, Francisco Bustio, said 'GPG is committed to playing an important role in the development of Australia's renewable energy industry and supporting the energy transition through the generation of clean, renewable energy'. The wind farm is designed to generate the energy needed to power the equivalent of 40,000 households. It will also contribute to the local economy and help build capabilities within Australia's renewable energy industry. Approximately 95 direct jobs will be created during the construction phase, and a further 6 permanent jobs will be created to support the ongoing operations of the wind farm.

Bet on Australia

The Crookwell 3 wind farm will be Naturgy's sixth investment in Australia, through its subsidiary GPG. Already one of the top 3 independent renewable energy companies in Australia, this new project will see Naturgy reach 750 MW of renewable energy generation projects in the country with secured PPAs.

GPG currently operates the Crookwell 2 wind farm (91 MW), in New South Wales, with a PPA awarded by the Australian Capital Territory (ACT) Government. In addition, the Berrybank 1 wind farm (180 MW) in Victoria, which was awarded a PPA by the Victorian Government, has recently commenced operations. The Berrybank 2 wind farm (109 MW), with a PPA awarded by the ACT Government, has started its construction, and is due to be completed in the second half of 2022. As part of the commitments associated to this project, GPG is constructing a 10MW/20MWh battery located in the ACT that will support energy distribution on the ACT electricity grid.

GPG has already secured Corporate PPAs with other tier one corporate off-takers for two additional wind farm projects that will be located in Victoria: the Ryan Corner wind farm (218 MW) and the Hawkesdale wind farm (97MW).

Naturgy has an additional portfolio of more than 650 MW of projects in Victoria and New South Wales in different stages of development which will drive the sustainable growth of GPG in Australia.

About Global Power Generation (GPG)

Global Power Generation (GPG) is the international energy generation arm of Spain-based Naturgy. GPG has accumulated extensive experience developing over 4GW of power generation projects in 9 countries across the world and currently employs around 520 people worldwide.

Naturgy, parent company of GPG, is a pioneering multinational group in gas and electricity integration, operating in more than 20 countries, with 16 million customers, and 9,335 employees, of which more than 50% work outside of Spain. As of 2020, the Group has an installed capacity of 15,333 MW, an EBITDA of 3,714 million euros and the value of its assets amounts to 39,545 million euros




Madrid, June 11 th, 2021

Disclaimer

Naturgy Energy Group SA published this content on 11 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 June 2021 10:19:02 UTC.


© Publicnow 2021
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Yield 2021 6,86%
Capitalization 21 141 M 25 188 M 25 181 M
EV / Sales 2021 1,86x
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