Tilt Renewables has hit go on its Waddi wind farm in Western Australia, which it says is the first Australian wind project to reach a final investment decision (FID) in 2025.
Tilt will commence construction on Waddi early next year as it targets first operation in 2028. The project, which is backed by a 15-year supply agreement with AGL, is set to connect to the SWIS (South West Interconnected System) in WA, with the capacity to power 68,000 homes per year.
Tilt chief executive officer Anthony Fowler said reaching FID for Waddi showed the “investment drought” for new projects in Australia was “finally breaking”.
“We now have everything in place to start construction: strong financial backing from our investors, a 15-year supply contract with AGL, an offer to connect to the SWIS, and planning approvals from local Shire of Dandaragan, State and Federal authorities,” he said.
“Our team have worked tirelessly to ensure the project minimises impacts on local flora and fauna as well as on our neighbours. This is reflected in the changes we made to the project design and in our commitment to share benefits with our local community.”
Fowler said Waddi would create more than 150 new jobs during construction and six permanent jobs, along with $3.9 million in community benefit funding over the life of the project.
Tilt signed a 15-year power purchase agreement with AGL in late October, equating to 100 per cent of Waddi’s wind generation. This came after Tilt received Federal backing the week prior.
AGL divested its 20 per cent stake in Tilt in November in an effort to recycle capital.
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