Tilt Renewables is developing the Rye Park Wind Farm, a 396-megawatt (MW) wind farm located 11 kilometres north of Yass. The project area spans the Hilltops, Upper Lachlan, and Yass Valley LGAs.
The project includes:
- 66 wind turbines with a 200-metre tip height each with a capacity of up to six MW
- a new 330/33 kV wind farm collection substation in the northern section of the Project site
- a new 330/33 kV wind farm connection substation located adjacent to the existing Transgrid 330 kV transmission line in the southern section of the Project site
- a new overhead powerline approximately 30 kilometres in length, rated at up to 330 kV capacity, running north-south along the length of the wind farm between the two substations, and
- underground and overhead 33 kV electrical cabling linking the wind turbines to the onsite collector substations and connection substation.
The project would also include a number of temporary construction compounds, an operations and maintenance facility, access tracks for each turbine, and upgrades to local roads where required.
Key Dates
| Sep 2021 | Contract Award and Financial Close |
| Dec 2021 | Construction Commencement |
| 2024 | Expected Construction Completion |
Financing
|
The project is being developed and financed by Tilt Renewables, a fund with an $800 million QIC Global Infrastructure Fund and $200 million AGL equity contributions. |
Procurement
| Procuring Agency: | The proponent, Tilt Renewables will lead procurement. |
| Successful Tenderer: | Vestas, Zeviron and Lumea |
| Procurement note: | The project will be delivered through a multi-contract structure:
|
PROJECT HISTORY
| Jul 2016 | AGL Energy Limited announced QIC, on behalf of its clients the Future Fund and those invested in the QIC Global Infrastructure Fund, as its equity partner in the Powering Australian Renewables Fund. QIC on behalf of its managed clients including the Future Fund will provide $800 million in equity funding to the fund. AGL will provide $200 million. |
| May 2017 | Development Consent was granted for the construction, operation and decommissioning of up to 92 wind turbines with a maximum tip height of 157 m and associated infrastructure. |
| Jul 2017 | The project received planning and environmental approvals. |
| Apr 2020 | Tilt Renewables lodged the Rye park Wind Farm Modification Application to the NSW Department of Planning, Industry and Environment to reduce the number of turbines to 77 and increase the size of wind turbines to 200 metres. |
| Nov 2020 | EPBC referral given for new development consent required as a result of modifications to the project. |
| Dec 2020 | Tilt Renewables signed a 15-year Power Purchase Agreement (PPA) with Newcrest to acquire 55 per cent of the Rye Park Wind Farm's output for use at its Cadia gold mine site, near Orange in NSW. |
| Mar 2021 | PowAR – the partnership between QIC, the Future Fund and AGL Energy Ltd – announces that it has joined with Mercury NZ Limited to enter a Scheme Implementation Agreement to acquire all the outstanding shares not already owned in Tilt. |
| Apr 2021 | A modified Development Consent for the Project was approved by the NSW Minister for Planning. |
| Jun 2021 | The project was granted an EPBC Approval. |
| Aug 2021 | Acquisition of Tilt by PowAR is complete for $2.09 billion. PowAR will own the Australian assets in the Tilt portfolio while Mercury NZ acquires the New Zealand assets. As a result, Tilt Renewables ceased to be listed on the NZX on 3 August 2021 and on the ASX on 4 August 2021. |
| Sep 2021 | Tilt Renewables announced the project has reached financial close. The project will be delivered through a multi-contract structure, with Vestas to construct and maintain the wind turbines under a 30-year contract, Zenviron to deliver the electrical and civil balance of plant contract, and TransGrid’s Lumea to deliver the transmission connection to the National Electricity Market. |
| Nov 2021 | Early works commenced on the project, ahead of major works expected in December. |
| Dec 2021 | Construction commenced on the project. |
| Jan 2022 | PowAR and Tilt Renewables are confirmed to be trading as Tilt Renewables. |
| Jun 2023 | AGL Energy signed a 15-year Power Purchase Agreement with Tilt Renewables to purchase 45 per cent of the electricity generated from Rye Park Wind Farm. |
| Aug 2023 | The project's first wind turbines have commenced power generation. |
| Apr 2024 | Tilt Renewables announced that the final wind turbine has been installed and is ready for commissioning. The wind farm is expected to enter operations mid-2024. |
Estimated Total Cost
(2020)
Sector
Energy
Procurement approach
Other |
Location
New South Wales |
Resources
