This deal increases GPG installed capacity in the country to over 700 MW.
Naturgy increases its presence in Australia, becoming the Top-2 independent wind energy producer in the country and confirming its commitment to renewables growth in Australia, through its Global Power Generation joint venture (GPG).
Hawkesdale is the fifth wind power project developed by Naturgy in Australia and the second one under a Corporate Power Purchase Agreement (PPA).
Global Power Generation (GPG), a joint venture of Naturgy Energy Group, SA (75%) and the Kuwait Investment Authority (25%), has been awarded the contract to build a 97 MW wind farm located at Hawkesdale in Victoria, approximately 270 km from Melbourne, Australia.
The contract awarded is a 15 years Power Purchase Agreement (PPA) for the energy equivalent to 97 MW capacity. Given the characteristics of the awarded contract and the conditions of the Australian market, one of the most attractive countries to invest in renewables, the project fully complies with the investment and profitability criteria required by Naturgy for value creation.
Naturgy Renewables in Australia
The Hawkesdale wind farm will be Naturgy’s fifth investment in Australia, through GPG. Including this project, Naturgy will reach a renewable capacity over 700 MW in the region, together with the Crookwell 2 wind farm (96 MW), currently in operation, Berrybank Stage-1 (180 MW), close to be operational, Berrybank Stage-2 (107 MW) and Ryan Corner (218 MW) both under development.
Naturgy has recently secured contracts for different renewable projects in Australia resulting in the development of a capacity greater than 400 MW, and increasing by more than 150% its current installed capacity in the country. This means Naturgy will become one of the the Top-2 independent wind energy producers in Australia. The company also has a project pipeline of more than 600 MW in the Australia and aims to become one of the main independent renewable operators in the country in the next three years, reaching a total capacity of more than 1.3 GW.
Global Power Generation (GPG)
Global Power Generation (GPG) is Naturgy Energy Group’s subsidiary dedicated to international power generation, which is 25% owned by the Kuwait Investment Authority (KIA), the oldest sovereign fund in the world. KIA’s interest in GPG is managed by the KIA’s direct infrastructure platform, Wren House Infrastructure Management. GPG manages a total installed capacity of 4,100 MW and employs around 800 people worldwide.