Under a landmark new agreement with Gamuda, local Tasmanian landowners will co-develop a portfolio of renewable projects representing a combined 600MW of wind and solar energy and up to 600MW of battery storage.
The portfolio, which currently includes Weasel Solar Farm and Cellars Hill Wind Farm, has been led by prominent Tasmanian landowners, the Downie Family, with development partner Alternate Path.
Gamuda said the Downie family has held pastoral land in Tasmania for more than 200 years, and Peter Downie is a respected community member and renewable energy advocate.
As a landowner-led project portfolio, the project planning has been developed in close collaboration with local landowners, community and government to be sensitive to the local environment and deliver local community jobs and benefits, including energy rebates to households within a 12km radius of the portfolio.
Gamuda will take an equity stake in the portfolio to secure development rights for current and future projects and deliver them under sole-source engineering, procurement, and construction (EPC) contracts. This is expected to set the company up with a pipeline of energy construction work through to 2029. The agreement is subject to Foreign Investment Review Board approval.
Central to its equity investment in the portfolio, Gamuda said it is committed to continue the landowner-led principles of the portfolio, which will be delivered in partnership with the Downie Family and Alternate Path.
Peter Downie said the deal was a win-win-win for landowners, the community and Gamuda.
“We have been highly selective in finding the right partner to work with us to develop this portfolio that brings both a financial and technical contribution and is wholly committed to the strong social licence and landowner-led principles of these projects.
“We have been in discussion with Gamuda for many months and have seen their genuine partnership approach and commitment to our community values. We’re excited to move forward together to deliver these projects for the benefit of Tasmanians.”
Gamuda Chief Strategy and Growth Officer, Jarred Hardman, said the Central Tasmania portfolio perfectly fits Gamuda’s energy strategy to become a leading end-to-end developer, builder, and owner of energy assets to accelerate Australia’s clean energy future.
“This deal represents our first Australian investment and aligns with our goal to invest and construct high-quality energy projects to diversify and grow our Australian business.
“It builds upon our ongoing success in the Australian infrastructure market where we are delivering a $4.5 billion pipeline and is supported by our energy experience across a range of projects internationally.”
Subject to further planning and development processes and approvals, construction of Weasel Solar Farm is estimated to commence in the 2027 financial year and Cellars Hill Wind Farm in the 2028 financial year.
