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Press Release from 2024-02-05 / KfW IPEX-Bank

KfW IPEX-Bank participates in financing for "Neoen’s Goyder South” wind farm in Australia

Picture from above of a turbine installation in a desert landscape
  • 203 MW total capacity from 37 GE wind turbines
  • “Green” electricity for 120,000 households / savings of up to 100,000 tons of CO2

KfW IPEX-Bank is participating in another energy transition project in Australia. It comprises the construction and operation of the 203 MW second tranche of Goyder South Stage 1 onshore wind farm and the Blyth Battery in South Australia. The wind farm will have a total capacity of 203 MW and the battery storage facility is 238.5 MW / 477 MWh.

The project was developed and is entirely owned by the experienced project developer Neoen Australia. This long-standing client of KfW IPEX-Bank is currently the largest owner and operator of renewable energy projects in Australia.

"We are financing both projects out of conviction," says Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. "Our aim is to support the transformation of the economy and society to improve economic, ecological and social living conditions worldwide - which is why we also focus on energy transition projects. With our participation, we are enabling another energy transition project in Australia." In addition to KfW IPEX-Bank four other banks are involved in the financing

Commissioning is planned for mid-2025. The entire Goyder South Stage 1 wind farm consists of 75 wind turbines and will have a capacity of 412 MW. In addition, the installation of the Blyth Battery with a capacity of 238.5 MW / 477 MWh will contribute to the flexibility and stability of the grid.

An EPC contract for the turnkey construction of the wind farm was concluded with GE Renewable Energy Australia and Elecnor. A 30-year full maintenance contract was also concluded with GE for the operating phase.

The battery will be installed under an EPC contract between the project company and Green Light Contractors and NHOA Australia. Both companies will also be responsible for operation and maintenance.

Energy

We support the transformation of the energy industry, primarily wind power, solar energy and hydrogen, as well as water and waste management infrastructure.

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