KfW IPEX-Bank co-financing Austalian wind farm

KfW IPEX-Bank is participating in Australia's 'Golden Plains' wind farm project. The project involves the construction and operation of the onshore wind farm around 130 kilometres west of Melbourne, the capital of the state of Victoria. The wind farm will have a total capacity of 1.3 GW, the bank said.

"We are financing 'Golden Plains' out of conviction," said Dr Velibor Marjanovic, Member of the Management Board of KfW IPEX-Bank. "Our focus is on supporting the transformation of the economy and society to improve economic, ecological and social living conditions worldwide - which is why we also focus on energy transition projects. With our investment, we are enabling a beacon of the energy transition that will supply 750,000 households with renewable energy."

The total investment volume amounts to AUD two billion and is provided by various institutions.

Construction will start at the beginning of 2023. 122 6.2 MW turbines with a capacity of 756 MW from the Danish manufacturer Vestas will be erected in the first phase. This will be followed by further construction phases before the total capacity of 1.3 GW is reached. A battery storage facility is also planned in the project, which is considered a lighthouse project of the energy transition in Australia.