Taralga Wind Farm is located in South Western New South Wales, the most populated region in Australia. It utilizes proven Vestas Wind Technology turbines with an estimated construction cost of approximately A$280M. Banco Santander, one of Europe’s largest banks, has partnered with CBD on the project and has acquired 90% of the equity. CBD retains a 10% equity holding. The project is under construction with plans progressing towards the final commissioning program and the operations plan.

"Construction of a project of this size is not without its challenges. CBD’s project team has met and solved each challenge along the way. The next major project is already on the drawing board, with due diligence progressing. There is a concerted expectation that the Australian government will modify its energy program consistent with its goal to be a leader in emissions reduction in the Asia Pacific region," said Gerry McGowan, CBD Executive Chairman and Managing Director.

When completed in late 2014, Taralga Wind Farm will generate approximately 300 GW hours of renewable energy annually, which is the equivalent of the annual energy needs of 40,000 homes.

Major milestones include:

– Debt financing completed in June 2013.

– EPC (Engineering, Procurement and Construction) contracts for turbine supply and balance of plant executed in June 2013.

– PPA (Power Purchase Agreement) consummated with Energy Australia, one of the three top power retailers in Australia.

– Completion of connection works associated with the network service provider Marulan Sub Station is slated for the third quarter of 2014.

– 132kV transmission connection from the wind farm to the network service provider’s substation is nearing completion.

– Wind turbine equipment, comprising nacelles, hubs and blades, have arrived at Australian ports; transport to the site is scheduled for June 2014.

– Manufacture of towers is 75% complete.

– Related civil engineering projects for roads, turbine pads and site preparation infrastructure is underway.

– Wind farm substation works have been moved closer to site in preparation for integration into the completed substation pad.

– Grid connection and generator registration have commenced in preparation for the ‘power-on’ date targeted for the third quarter of 2014.