Synergy in joint venture deal to develop WA renewable projects
The WA Government has approved State-owned energy generator and retailer Synergy to enter into a joint venture with infrastructure investment company DIF and Australian industry super fund Cbus for the development of large-scale renewables projects in Western Australia.
Under the joint venture, Synergy, DIF and Cbus have established 'Bright Energy Investments' which will deliver Stage Two of the Greenough River Solar Farm (GRSF2) south of Geraldton, increasing its capacity from 10MW to 40MW; as well as the refurbishment of Albany Grasmere Wind Farm.
Bright Energy Investments is also undertaking preparatory work on the development of a further proposed renewable energy project in the Warradarge Wind Farm (WWF).
ASX-listed diversified engineering and infrastructure company RCR Tomlinson has been awarded the Engineering, Construction and Procurement (EPC) for the expansion of GRSF2, with an immediate project start and targeted completion in the second quarter of 2019.
The joint venture with DIF and Cbus will help Synergy meets its Large-scale Renewable Energy Target (LRET) obligations under Commonwealth legislation. The LRET scheme requires 33,000 gigawatt hours of renewable energy to be produced nationally by 2020 and those levels maintained until 2030.