Mar 16, 2018

Construction to begin on Australia’s Murra Warra wind farm

Energy efficiency
Australian Construction
Sophie Chapman
2 min
Murra Warra reaches financial close
On 14 March the Murra Warra Wind Farm reached financial close, allowing the construction of Stage One to begin. The farm...

On 14 March the Murra Warra Wind Farm reached financial close, allowing the construction of Stage One to begin.

The farm, located 30km from Horsham in Victoria, will feature 61 turbines in its Stage One project, reaching 226MW of nameplate capacity.

The construction of Stage One will generate approximately 150 jobs in regional Victoria, and once operational permanent maintenance and monitoring jobs will be created – the farm is anticipated to be operational by the middle of 2019.

The equity finance for Stage One has been provided by RES and Macquarie Capital.

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Debt financing for the project is valued at AU$320mn (US$248.4mn), supplied by a consortium of ANZ, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Sumitomo Mitsui Banking Corporation, and Westpac Banking Corporation.

“The Murra Warra Wind Farm is a world class project which once constructed will be one of the highest performing wind farms in the southern hemisphere,” said Matt Rebbeck, CEO of RES Australia.

“We are proud to be making this important contribution to the regional Victorian economy.”

“We have developed a strong relationship with the local community and look forward to continuing to engage with community stakeholders as we enter into the construction phase for Stage One.”

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Apr 16, 2021

Hydrostor receives $4m funding for A-CAES facility in Canada

energystorage
Canada
Netzero
Dominic Ellis
2 min
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction
The funding will be used to complete essential engineering and planning, and enable Hydrostor to take critical steps toward construction...

Hydrostor has received $4m funding to develop a 300-500MW Advanced Compressed Air Energy Storage (A-CAES) facility in Canada.

The funding will be used to complete essential engineering and planning, and enable Hydrostor to plan construction. 

The project will be modeled on Hydrostor’s commercially operating Goderich storage facility, providing up to 12 hours of energy storage.

The project has support from Natural Resources Canada’s Energy Innovation Program and Sustainable Development Technology Canada.

Hydrostor’s A-CAES system supports Canada’s green economic transition by designing, building, and operating emissions-free energy storage facilities, and employing people, suppliers, and technologies from the oil and gas sector.

The Honorable Seamus O’Regan, Jr. Minister of Natural Resources, said: “Investing in clean technology will lower emissions and increase our competitiveness. This is how we get to net zero by 2050.”

A-CAES has the potential to lower greenhouse gas emissions by enabling the transition to a cleaner and more flexible electricity grid. Specifically, the low-impact and cost-effective technology will reduce the use of fossil fuels and will provide reliable and bankable energy storage solutions for utilities and regulators, while integrating renewable energy for sustainable growth. 

Curtis VanWalleghem, Hydrostor’s Chief Executive Officer, said: “We are grateful for the federal government’s support of our long duration energy storage solution that is critical to enabling the clean energy transition. This made-in-Canada solution, with the support of NRCan and Sustainable Development Technology Canada, is ready to be widely deployed within Canada and globally to lower electricity rates and decarbonize the electricity sector."

The Rosamond A-CAES 500MW Project is under advanced development and targeting a 2024 launch. It is designed to turn California’s growing solar and wind resources into on-demand peak capacity while allowing for closure of fossil fuel generating stations.

Hydrostor closed US$37 million (C$49 million) in growth financing in September 2019. 

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