EnergyWatch

A new model could help Vestas win more Australian orders

Vestas' largest Australian order in six years was secured by a new financing model from a Danish credit agency with increased market risk. This could strengthen Vestas' position on the recently revitalized Australian renewables market.

I 2010 Vestas won a record order for 420MW in Australia. Since then, the market completely stopped, but now it is showing signs of life once more. | Photo: Vestas

The order for the Australian Sapphire 270 MW project secured by Vestas in mid-December is quite remarkable. Not simply because it represented 2016's third-largest order and the largest Australian order since 2010's MacArthur wind farm. But also because the project's financing model is highly unusual.

Of the farm's 270 MW, power purchase agreements, PPA's, have only been secured for 100 MW. The remaining two-thirds of electricity will be sold on pure market conditions, which is yet more unusual in the Australian market.

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