Wambo Wind Farm 50 per cent ownership to propel renewable energy transformation

22 February 2023

In an exciting development for the government-owned electricity generator, Stanwell Corporation has taken its first ownership share in a new wind farm.

Stage 1 of the 252 MW Wambo Wind Farm will be developed in a joint venture between Stanwell and Cubico Sustainable Investment (Cubico).

Under the joint venture arrangements, Stanwell will also dispatch the other 50 percent of the power generated under a power purchase agreement with Cubico.

Stanwell CEO Michael O’Rourke said Wambo Wind Farm is a landmark investment in Stanwell’s renewable energy pipeline of projects.

“We are rapidly advancing our portfolio of clean, renewable energy projects to deliver the Queensland Energy and Jobs Plan. This is the first partnership where Stanwell has a significant equity interest.

“Stanwell’s joint ownership of the project means we will also have Stanwell employees involved in the operation and maintenance of the wind turbines, opening up fantastic new career opportunities for our people.

“As our electricity generation mix continues to shift, we will maintain our focus on seeking out and delivering projects like Wambo Wind Farm, creating secure, ongoing jobs and driving lasting economic opportunities for our regional communities.”

Stanwell is currently in discussions with multiple large industrial customers to link them with renewable energy generated by the project.

Cubico’s Head of Australia, David Smith said Cubico was proud to partner with Stanwell on the Wambo Wind Farm project.

“We have been developing the project since 2019 and are fully supportive of the Queensland Government’s goal to deliver on its renewable energy target while maximising local jobs and industry benefits and maintaining public ownership in the energy sector,” Mr Smith said.

“As a sign of Cubico’s commitment to local employment we have undertaken an extensive supply chain mapping process that gives suppliers in the region the best opportunity to understand what is needed for the construction and operation of the wind farm and make their goods and services known to our contractors.

“We have also developed a local content charter that commits us to a procurement process that provides maximum opportunity for companies in the neighbouring area to be involved.”

The project received $192.5 million from the Queensland Government’s Renewable Energy and Hydrogen Jobs Fund.

Wambo Wind Farm is strategically located within the Southern Renewable Energy Zone, within close proximity to Stanwell’s Tarong power stations and the proposed Tarong West Wind Farm, and the project will employ around 200 people during construction.

Construction is expected to commence in April 2023, with commercial operations scheduled for late 2025.

Stanwell and Cubico have entered into a memorandum of understanding to develop Stage Two of the project, potentially doubling the capacity of the wind farm to over 500MW.

Stanwell’s portfolio is currently comprised of 3,300 MW of traditional coal-fired power and 2,100 MW of renewable energy from projects that are currently operational or under development.