The clean energy future we want is happening
This is an amazing time for renewable energy and climate action in Victoria!
A group of large energy users (several of which are TAKE2 members) led by Telstra including ANZ, Coca-Cola Amatil and the University of Melbourne, recently announced they had entered long-term agreements to buy power from the first stage of the Murra Warra wind farm near Horsham.
Windfarm developer Goldwind also announced that financing had been received for its new 530 megawatt Stockyard Hill project near Beaufort and Skipton, west of Ballarat.
The Stockyard Hill development has received funding from a nine-member syndicate led by the National Australia Bank. It includes ABN AMRO, the Bank of Tokyo-Mitsubishi UFJ Ltd, Commonwealth Bank, Industrial and Commercial Bank of China, Mizuho Bank, Societe Generale, Sumitomo Mitsui Banking Corporation and Westpac.
A long-term Power Purchase Agreement has been secured with Origin Energy.
These progressive businesses are facilitating the clean energy future that Victorians overwhelmingly say they want. Social research undertaken by Sustainability Victoria earlier this year shows that 83% of Victorians support renewables.
These developments confirm industry confidence in a renewable energy future and give the impetus for these two big projects to proceed. They confirm what investors and the world's largest businesses know that the energy transition is on and businesses are the key.
Having large corporate users secured for Murra Warra and financing for Stockyard Hill is part of a push toward the development of sustainable energy generation.
Apart from new generating capacity and resilience these projects are creating the jobs of the future, in professional services, financing, manufacturing, installation and maintenance. And in areas where we need more jobs and investment - regions. It’s an exciting time.
The 756MW of renewable energy generating capacity contribute significantly to the Victorian Renewable Energy Target.
Several TAKE2 businesses and organisations are key proponents. Congratulations to ANZ, Westpac, NAB, University of Melbourne - all of which are delivering on their pledges to be part of the solution to climate change.