Vestas secures Australian order of 756MW

The Danish wind turbine manufacturer wins its larger order to date from the Asia-Pacific region. Updated.
Photo: vestas
Photo: vestas

(Updated with details on export loan)

Vestas announces yet another major contract from Australia entailing supply of 756MW for a project in the state of Victoria.

This order marks the OEM’s largest onshore wind turbine order to date in the Asia-Pacific region. The development, named Golden Plains Wind Farm, will consist of 122 model V162.6.2MW units of the EnVentus platform.

Beyond executing engineering, procurement and construction, Vestas will also manage 30 years worth of service and maintenance.

“Vestas is very pleased to forge a new and valuable partnership with TagEnergy, and project operator WestWind,” writes Vestas Australia and New Zealand Vice President Sales Jan-Daniel Kämmer in a statement.

”To support the first stage of Golden Plains Wind Farm, Vestas has levered our capabilities across siting and technology design, finance solutions and grid connection. Through our EPC and long-term Service experience, we look forward to driving the realization of TagEnergy’s landmark project.”

Upon completion of the farm’s initial phase, Golden Plains Wind Farm will generate ample electricity to power approximately 450,000 households annually.

Turbine delivery is scheduled for the third quarter of 2023, with commissioning set for the fourth quarter of the following year.

Danish Export Credit Agency issuing loan

Not only is this the Danish turbine maker’s biggest onshore order in Asia Pacific, it also marks a return to Australia for the Danish Export Credit Agency (EKF).

The EKF has issued an export loan of DKK 1.4bn (EUR 188m) to Tag Energy, the developer of the project.

”It’s a bit of a game of chance that we are returning. For some time, this has been something that banks have been able to finalize on their own, so there hasn’t been the same need for EKF,” explains Chief Commercial Officer, Global Wind & Structured Finance at EKF Peter Boeskov and adds:

”Over the past couple of years we have gone through a period where we have been a lot more proactive about finding business opportunities together with exporters.”

Most recently, the EKF announced loan agreements for Enel and Iberdrola of DKK 5.8bn and DKK 7.44bn, respectively.

With the loan of DKK 1.4bn, the EKF is the biggest creditor behind the Golden Plains Wind Farm, accounting for a third of the total loan financing. Other lenders include Australian fund Clean Energy Finance Corporation as well as KfW IPEX Bank, Commonwealth Bank of Australia, Westpac, Mizuho Bank and Bank of China.

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