June 24 (Renewables Now) - Australia’s Retail Employees Superannuation Trust (REST) today announced it has acquired the 60% it did not already own in the 206-MW Collgar wind farm in Western Australia, thus becoming its sole owner.
The superannuation fund has been involved in the project since its construction was launched back in 2010. Its partner in the scheme was investment bank UBS (SWX:UBSG), which has been looking to exit the project since the start of 2018. Financial details on the transaction were not disclosed.
Located at Merredin, in Western Australia’s central Wheatbelt, the Collgar wind park was installed at a total cost of AUD 750 million (USD 521.2m/EUR 457.7m). Its 111 Vestas V90 turbines have been generating power since 2011. The generated electricity of between 650 GWh and 850 GWh per year accounts for 40%-50% of the state’s renewables generation on average and is enough to meet the demand of up to 170,000 homes.
(AUD 1.0 = USD 0.695/EUR 0.610)