The international metallurgical group will own 30% of ACCIONA’s largest wind farm. ACCIONA will own the remaining 70% of the project, with which it will support the sale agreement to CleanCo, the Queensland public utility, of the 400MW production.
ACCIONA and the international metallurgical group Korea Zinc Co. have reached an agreement to jointly develop the MacIntyre wind farm (923MW) in Queensland, ACCIONA’s largest renewable project and one of the largest in Australia.
The agreement provides that Ark Energy, a subsidiary of Korea Zinc Co., will have a 30% stake in the MacIntyre wind farm, while ACCIONA will own the remaining 70%. ACCIONA will be responsible for the comprehensive management of the project, which includes development, construction, operation and maintenance.
ACCIONA has already signed a long-term power sale agreement (PPA) with CleanCo, the new public utility in the state of Queensland, of the annual production of 400MW for ten years, which will be backed by its 70% stake in the project . The MacIntyre wind farm will also supply power to Sun Metals Corporation, a subsidiary of Korea Zinc Co. in Australia, contributing to the metallurgical group’s goal of obtaining 100% of its electricity supply from renewables by 2040.
José Manuel Entrecanales, Executive Chairman of ACCIONA, stated: “Having Korea Zinc as a partner in this emblematic project is a privilege and marks a milestone in the development of MacIntyre. Our companies share the vision of being pioneers in clean energy and this alliance is the exponent of how companies from different sectors can join forces to carry out benchmark renewable projects “.
Yun B. Choi, Korea Zinc Co. CEO, stated: “We are very pleased to establish an alliance with ACCIONA to make this project a reality, unique due to its dimensions, which represents a qualitative leap for our respective companies. Our participation in the wind farm MacIntyre reflects our commitment to renewable energy in Australia. “
In addition to the MacIntyre wind farm, ACCIONA will build the adjacent Karara wind farm (103MW), owned by CleanCo. The MacIntyre and Karara complex will generate clean electricity to supply nearly 700,000 Australian homes and avoid the emission of around 3 million tonnes of CO2 each year.
The two projects will jointly mobilize investments of around AU $ 2 billion (€ 1.3 billion) and will be key for the state of Queensland to reach the goal of supplying 50% of its electricity consumption with renewable energy by 2030.
The MacIntyre and Karara complex will generate up to 400 jobs during its life cycle and will provide a significant economic boost to the communities in which it is located, with a local investment that will exceed AU $ 500 million (€ 325 million).
The farms will have 180 Nordex Delta 4000 5.7 MW turbines, the latest generation of wind turbines launched by the German manufacturer.
Construction is scheduled to begin in the second half of 2021, although most of the investments will be concentrated in 2022 and 2023. The entry into operation will be gradual by blocks to ensure connection to the grid with full technical guarantees for the electrical system state. The complex will be fully operational in 2024.