- Neoen and Stanwell have signed a 15-year power purchase agreement (PPA) for 215 MW of energy from Mount Hopeful Wind Farm located in Central Queensland, Australia
- Stanwell Corporation is Queensland’s largest energy generator and provides electricity to commercial and industrial users through its retail business Stanwell Energy
- Mount Hopeful Wind Farm will have a total capacity of 330 MW and will be fully owned by Neoen
- Construction is scheduled to commence in the second half of 2023, with first generation expected in 2026
Neoen (ISIN: FR0011675362, Ticker: NEOEN), one of the world’s leading producers of exclusively renewable energy, has signed a power purchase agreement for 215 MW of clean energy with Stanwell Corporation, a major provider of electricity and energy solutions to Queensland, the National Electricity Market and large energy users throughout Australia.
Under the 15-year agreement, Stanwell will purchase 65% of the generation capacity of the 330 MW Mount Hopeful Wind Farm, which will be fully owned by Neoen. This PPA will enable Stanwell to provide clean, renewable energy to their commercial and industrial customers, through their retail electricity business, Stanwell Energy.
Neoen and Stanwell are also exploring future renewable energy projects in the state. Neoen is Australia’s largest renewable energy player with over 2.5 GW of assets in operation or under construction, with 817 MW of this capacity located in Queensland.
Mount Hopeful Wind Farm is located in the ranges southwest of Rockhampton, in Central Queensland. Neoen acknowledge and is engaging with the Traditional Owners of the land on which it is located, the Gaangalu Nation People (GNP). Construction of the wind farm is scheduled to commence in the second half of 2023, with first generation expected in 2026. Once operational, Mount Hopeful Wind Farm will supply enough clean electricity to power over 240,000 homes.
The wind farm will also deliver a significant economic boost to the region, contributing to the broader transformation underway in Central Queensland. The project is expected to unlock 220 construction jobs and up to 12 ongoing operational and maintenance roles. Ongoing consultation with industry, government and community members has resulted in the development of a Local Participation Plan to maximise opportunities for local and regional jobseekers and suppliers.
Louis de Sambucy, Neoen Australia’s Managing Director said: “We are delighted to sign our first PPA with Stanwell, and we sincerely thank them for placing their trust in us. We have achieved rapid growth in Queensland over the past few years, with Mount Hopeful becoming our third project. We look forward to delivering energy jobs and clean energy, and to making a further contribution to Queensland’s ambitious target of 70% renewables by 2032.”
Michael O’Rourke, Stanwell’s CEO, commented: “We are pleased to be partnering with Neoen to support Queensland’s renewable energy future. Together, we are ensuring these types of opportunities provide benefits for Queensland’s communities, workers, and the economy. Mount Hopeful Wind Farm will enable Stanwell to provide clean, renewable energy to our commercial and industrial customers and explore upskilling and training pathways for our people.”
Xavier Barbaro, Neoen’s Chairman and Chief Executive Officer concluded: “We thank Stanwell for their long-term commitment and congratulate our team on this achievement. Coming just after Neoen reached its 10th year in Australia, it is a clear indication of what we will be able to accomplish over the next decade, with highly competitive projects providing value to customers and regions in transition. More than ever, Neoen is entirely focused on delivering affordable, reliable clean energy to its clients in Australia and around the globe”