CS Energy has signed a new agreement to offtake 100 per cent of the renewable energy from the Boulder Creek Wind Farm and secured additional private sector investment in Queensland’s energy sector, in line with the Crisafulli Government’s Energy Roadmap and through the QIC Investor Gateway.
Under the agreement, CS Energy will transfer its 50 per cent equity stake in the project to Aula Energy and retain access to 100 per cent of the energy produced by the wind farm, which is currently under construction in Central Queensland.
“This arrangement will enable CS Energy to focus on delivering safe, reliable and affordable energy from our core asset portfolio and supports the delivery of new wind generation to diversify the state’s energy mix,” CS Energy Acting CEO Tony Bellas said.
“Aula Energy has been involved in the Boulder Creek Wind Farm since its early development of the project.
“The new approach will provide continuity for the community, the workforce, and contractors as all existing arrangements for project delivery, community engagement, and benefit-sharing will continue.
“We are supporting the Queensland Government’s delivery of the Energy Roadmap which is all about leveraging existing assets to put downward pressure on prices, optimising investments to respect taxpayer funds, and boosting private sector investment in new assets to ease pressure on the State’s balance sheet.
“We’ve been working with QIC through the Investor Gateway, matching investors and developers to drive new investment across Queensland’s energy sector.”
The Australian Competition and Consumer Commission has approved the transaction under its notification waiver process.
More information about Boulder Creek Wind Farm can be found at the Boulder Creek Wind Farm website.