Transfield Services adds to its wind farm development portfolio
17 August 2009
Transfield Services has signed a Memorandum of Understanding (MOU) with Port Bajool Pty Ltd for the joint development rights of the Arriga Wind Farm near Mareeba in North Queensland, Australia. Both parties will contribute equally to the development with TSI Fund having the first right of refusal at the time of financial close.
Under this arrangement, Transfield Services will project manage the development of the 2,700 hectare site owned by Port Bajool, which could support a wind farm with an installed capacity of around 130 megawatts.
Transfield Services’ Managing Director and CEO, Dr Peter Goode, said today: “Our project development and management capabilities will deliver another renewable energy asset.”
“We look forward to working with Port Bajool to add considerable value to the site,” Dr Goode said.
Transfield Services recently sold two of its wind farm developments, consisting of the Barn Hill Wind Farm development project and the Crows Nest Wind Farm development site to AGL for $9 million. Transfield Services took the Barn Hill site from concept phase, right through the feasibility, planning and approvals process.
Transfield Services’ portfolio for the development rights of 12 wind farms has the potential to boost Australia’s renewable energy capacity by more than 1,000 megawatts.
Transfield Services is also in the process of developing the near by High Road Wind Farm site which has a potential capacity of around 50 megawatts.
Port Bajool Pty Ltd is a well regarded North Queensland commercial and residential property developer, with more than twenty years experience in the field. www.portbajool.com.au
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