THE proposed Delburn Wind Farm will be sold off to a London-based company before construction starts.
Proponent OSMI announced this morning, Thursday, January 28, it had secured Cubico Sustainable Investments as “the principal project investor” for the Delburn Wind Farm.
The announcement described Cubico as “a leader and global investor in renewable energy with investments in 13 countries and an installed capacity of around 4 GW”.
The company will purchase 100 per cent of the project prior to the commencement of construction.
Cubico’s Head of Australia, David Smith said the company was “excited to be investing in this innovative project in the Latrobe Valley – Victoria’s energy generation heartland – and are committed to delivering a high quality project that will support the economic transition of the region, as well as contributing to Victoria’s renewable energy targets.”
“Cubico is committed to working closely with the community surrounding the project and will honour all commitments made by OSMI, such as maximising local procurement opportunities and the delivery of a best practice Community Benefits Scheme.” Mr Smith said.
Through the arrangements, OSMI will continue to be the public face of the project.
The company will provide ongoing services such as community engagement, development approvals compliance and land management through the construction period and early operations, given its existing knowledge of the project, local area and established relationships with key stakeholders.
OSMI director, Peter Marriott said they were “really pleased to bring on a project partner that shares our vision and values in delivering leading edge renewable energy projects, with quality technology and communities at the centre of our decision-making framework”.
“The team at Cubico have a strong history in the Australian power generation sector and we look forward to bringing this this project to fruition with them,” Mr Marriott said.