Stanwell signs historic deal with RES to acquire Australia’s largest publicly owned wind farm

• Stanwell and global renewable energy company RES sign historic deal for Queenslanders to own the Tarong West Wind Farm in the South Burnett.
• The acquisition by the publicly owned generator for the 436.5MW wind farm project to be located south-west of Kingaroy follows the recent development approval issued by the state government.
• The Queensland Government is backing the project with $776.1 million in funding committed to date.
• The project will create around 200 construction jobs and 15 operational jobs.

The Queensland Government has welcomed Stanwell’s acquisition of the 436.5MW Tarong West Wind Farm project from global renewable energy company RES.

Stanwell and RES recently signed the historic agreement, meaning Queenslanders will own 100 per cent of the project and the clean energy it will produce.

The project located in South Burnett will realise significant economic benefits for Queenslanders, including around 200 construction jobs and hundreds more indirect jobs as well as 15 operational jobs.

The Tarong West Wind Farm project, which recently received development approval, will feature 97 wind turbines and produce enough clean energy to power the equivalent of 230,000 homes.

A Final Investment Decision is expected in early 2025.

Michael O’Rourke, Stanwell CEO, commented:
“Adding the 436.5MW Tarong West Wind Farm project into Stanwell’s renewable energy portfolio is an exciting chapter not only in our renewable energy story, but also Queensland’s.
“It will play a critical role in transitioning our energy portfolio and brings us closer to our goal of having 9 to 10GW of large-scale wind and solar capacity by 2035.
“Stanwell now has more than 4000 MW of renewable energy and storage in our portfolio under contract, in development or under construction.
“We will continue to work constructively with RES and in close consultation with the South Burnett community, which we have been a proud part of for four decades, as we develop this project through to Final Investment Decision.”

Matt Rebbeck, RES CEO-Australia commented:
“RES is excited to reach this significant milestone in the development of the Tarong West Wind Farm. It is a testament to the dedication and hard work of the project team to progress the development.
“RES is committed to continuing to work with key project stakeholders including the local community, landowners and traditional owners prior to the commencement of construction.
“We welcome Stanwell’s involvement in the project as we work to achieve a cleaner, more sustainable energy future for Queensland.”

ENDS

About RES in Australia

RES entered the Australian market in 2004 and now employs over 180 people, with offices across multiple metropolitan and regional locations. RES is engaged in all technologies: onshore wind, offshore wind, solar and storage and offers development, construction, and asset management and O&M services across Australia.

With an industry-wide reputation for identifying innovative solutions to problems that reduce risk, cost and allow projects to progress, RES’ exceptional work was recently acknowledged with the Clean Energy Council’s Innovation Award 2022 and Diversity & Inclusion Award 2023, as well as the Asset Management Award 2022 at the Wind Investment Awards.

About RES

RES is the world’s largest independent renewable energy company, working across 24 countries and active in wind, solar, energy storage, green hydrogen, transmission, and distribution.  An industry innovator for over 40 years, RES has delivered more than 27 GW of renewable energy projects across the globe and plans to bring more than 22 GW of new capacity online in the next five years. 

As a service provider, RES has the skills and experience in asset management, operations and maintenance (O&M), and spare parts – supporting 41GW of renewable assets across 1,300 sites.  RES brings to the market a range of purposeful, practical technology-based products and digital solutions designed to maximise investment and deployment of renewable energy. 

RES is the power behind a clean energy future where everyone has access to affordable zero carbon energy bringing together global experience, passion, and the innovation of its 4,500 people to transform the way energy is generated, stored and supplied. Visit: www.res-group.com/au

About Stanwell

Stanwell is Queensland’s leading provider of electricity and energy solutions to the National Electricity Market, and large energy users along the eastern seaboard of Australia.

With over 40 years of continuous operations, Stanwell’s experience in working with communities to build, operate and maintain energy generation assets is now being applied in the transformation to clean energy.

Stanwell is developing a pipeline of renewable energy and storage projects throughout Queensland, whilst maintaining a reliable supply of baseload power to deliver on Queensland Government’s renewable energy target of 80% by 2035.

CONTACT FOR MORE INFORMATION:

Tanya Jackson
+61 140 157 1875
[email protected]

FTI Consulting
[email protected]