WATERLOO WIND FARM

RENEWABLES

ASSET DESCRIPTION

    • 74% ownership of the Waterloo Wind Farm, located in South Australia
    • 131MW, comprising 37 x 3.0MW V90 and 6 x 3.3MW V117 Vestas turbines
    • Proportionate board representation
    • Long-term contracts
      • Offtake Agreements with Hydro Tasmania for 10 years and Energy Australia for 15 years
      • Warranty, Operations and Management Agreement with Vestas

INVESTMENT FUNDAMENTALS

      • Operating asset (since 2010) with proven wind turbine technology
      • Strong joint venture partner – Energy Australia is Australia’s third largest integrated electricity retailer with an experienced development, operations and asset management team
      • Revenue stream backed by long term offtake agreements
      • Key operation costs covered by Asset Management Agreement and Warranty, Operations and Management Agreement

KEY RISKS AND MITIGATION

    • Wind and generation risk managed through demonstrated operating performance. Warranty, Operations and Management Agreement payments are also linked to actual generation, thereby aligning incentives
    • Pricing risk mitigated through long term offtake agreements
    • Asset Management Agreement with Energy Australia to oversee whole business management under agreed reporting and governance structure
    • Refinancing risk mitigated through conservative capital structure

Visit the Waterloo Wind Farm website