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CEFC backs Australia wind farm with A$80m

Australia’s green bank committed financing to the A$236m Bodangora project in New South Wales, its second major wind investment in the past six months.

Australia’s Clean Energy Finance Corporation will invest A$80 million ($60.8 million; €57 million) in a New South Wales wind farm, continuing an active start to 2017 for the green bank.

The investment will back the 113MW Bodangora wind farm, a A$236 million project near the town of Wellington. The project, which will consist of 33 General Electric turbines, will be operational in the second half of 2018.

“The Bodangora wind farm is expected to produce enough energy to meet the needs of over 49,000 homes, making an important contribution to the renewable energy capacity in New South Wales,” said Andrew Gardner, who heads the CEFC’s wind sector.

The project is the CEFC’s second wind farm investment in the state in the past six months. In December, the organisation committed A$120 million to the A$588 million 270MW Sapphire Wind Farm, which is expected to begin generating power in January 2018.

The CEFC has also been active in the solar space. Last month, the group committed A$77 million to three solar projects in Queensland and Victoria. In total, the CEFC’s solar financing programme has earmarked A$281 million for seven solar projects.

EnergyAustralia, an energy retailer, will purchase 60 percent of Bodangora’s energy generation to 2030, according to the CEFC. Infigen, a Sydney-based renewable energy developer and operator, will be tasked with building the wind farm.