Snowtown 2 Wind Farm

RENEWABLES

Asset description

  • 270MW operating wind farm located approximately 130km north of Adelaide, South Australia (SA)
  • Comprises 90 3.0MW direct drive turbines manufactured by Siemens Gamesa Renewable Energy (SGRE)
  • Connected to the SA transmission network via a dedicated and wholly-owned 28km transmission line

Investment fundamentals

  • Reached practical completion in October 2014
  • Power Purchase Agreement (PPA) to 2035 with Origin Energy (ASX listed gentailer with market capitalisation of $14bn and BBB (S&P) credit rating
  • Long-term Operations and Maintenance Agreement (OMA) with SGRE until 2034
  • No Marginal Loss Factor risk on electricity sold until December 2035 (comprising approximately two-thirds of revenues)
  • Potential value enhancement through battery and solar development (not assumed in Base Case)

Key risks & mitigation

  • Generation risk mitigated through 5 year operational data with well-known wind resource (P50 to P90 ratio of 5%)
  • Pricing risk mitigated through fixed price long-term PPA to 2035 with investment grade counterparty
  • Operating risk mitigated through OMA with performance guarantees to 2034

Visit the Snowtown 2 Wind Farm website