The project is known as the Kennedy Energy Park, an innovative 43.2MW (megawatt) wind, 15 MW solar and 2 MW lithium-ion battery storage hybrid project.
The site was identified and developed by Windlab.
20 year asset management contracts provides recurring revenues
The project will use twelve turbines and 56,000 solar panels on a single axis tracking mount.
Windlab will act as the owners’ representative during construction and will remain the operator of the project under a 20-year asset management contract.
The project is expected to take circa 12 months to construct and is scheduled to be operational before the end of 2018.
Management has a strong track record in terms of bringing projects into production on schedule and within budget.
Most recently, Windlab completed the 31 MW Kiata Wind Farm located in western Victoria ahead of the December commissioning date.
The company has now completed nine projects delivering a total of 1093 MW and estimates its total development pipeline at 50 projects generating in excess of 7000 MW.
In fiscal 2017 Windlab had capacity of 350 MW under management, generating revenues of $23.2 million and underlying earnings of $14.7 million.
As an integrated developer, owner and manager of wind farms, the company offers investors a degree of earnings predictability through recurring annuity revenues.