CEFC investment in Sapphire Wind Farm investment strengthens case for merchant risk
A clean energy generating gem
The 270 MW Sapphire Wind Farm, located between Glen Innes and Inverell in northern NSW, features energy efficient Vestas turbine technology, as well as transformers manufactured in Australia. The wind farm is generating energy and exporting to the grid. It is capable of supplying enough electricity to power 110,000 average households and abate carbon emissions by approximately 600,000 tonnes a year.
We are excited to see our second wind farm project in NSW proceed to construction. The commencement of this landmark project reinforces our track record of delivering excellent wind farm projects, following the successful delivery of both Boco Rock Wind Farm in southern NSW and Fântânele-Cogealac Wind Farm, the largest onshore project in Europe at the time of construction.Alex HewittManaging Director, CWP Renewables
The CEFC committed up to $120 million towards the project as part of a senior secured debt facility which also involves the Commonwealth Bank of Australia, Sumitomo Mitsui Banking Corporation (SMBC) and Denmark's export credit agency EKF. Partners Group, the global private markets investment manager, has provided the majority of the equity funding, with project developer CWP Renewables retaining a minority equity stake.
Sapphire Wind Farm was the first in Australia to use the Vestas V126 3.6 MW turbine, which has one of the best available rates of energy production per turbine. The use of 75 Vestas turbines built on Vestas' presence in the Australian market, leading to an improved supply chain for turbine equipment and cost efficiencies. A consortium between Vestas and Zenviron delivered the project, with Vestas supplying and commissioning the turbines, and Zenviron delivering the balance of plant. The wind farm's transformers were manufactured by the Wilson Transformer Company, Australia's largest manufacturer of power transformers.