Substantial construction of the $280 million Granville Harbour Wind Farm project will now commence following financial closure achieved by owners Palisade.
Located on a 1,200 hectare cattle farm on the West Coast of Tasmania, the wind farm will produce up to 112 megawatts of power.
Once complete, 31 turbines will operate with the capacity to power more than 46,000 Tasmanian homes.
This project is expected to create around 200 jobs during construction and about 10 on-going jobs in what is a massive boost for the West Coast.
Backed by the Federal Government through the Clean Energy Finance Corporation (CEFC), the development will receive $59 million investment from the CEFC, providing a strong commitment of Federal investment into Tasmania’s leading renewable energy wind resources.
The financial close comes after Hydro Tasmania announced last year that it had reached an in-principle agreement with the developers in relation to a power purchase agreement.
Today’s announcement confirms Tasmania’s status as the nation’s renewable energy powerhouse. This development is in line with the Hodgman Liberal Government’s Tasmanian-First Energy Policy, which has an ambitious target of achieving the lowest regulated power prices in the country by 2022, and to make Tasmania 100 per cent self-sufficient in renewable energy by 2022.