Macquarie offshoot to build its first wind farm after $740 million project reaches financial close

Aula Energy, a newly launched offshoot of finance giant Macquarie, is to build its first wind farm after reaching financial close with the joint owner of the $740 million project.

The 228 megawatt (MW) Boulder Creek wind farm, located around 40 kms south-west from Rockhampton, on land that will continue to be used for cattle grazing, is jointly owned by Aula Energy and Queensland state owned generation company CS Energy.

Aula Energy was launched late last year with a goal of building 4 gigawatts (GW) of wind, solar and battery storage projects across the country, with a particular focus on Western Australia.

It adds to Macquarie’s growing network of renewable offshoots that include the offshore wind specialist Corio and the battery storage developer Eku Energy.

CS Energy will buy all of the output from the wind farm’s 38 turbines for a period of at least 20 years after it starts full commercial operations in 2027.

“In collaboration with CS Energy and our project partners, we can now get construction underway to deliver the clean energy benefits of this project for Queensland,” Chad Hymas, the CEO of Aula Energy, said in a statement.

“As Aula Energy’s first project to reach financial close, this milestone is a strong endorsement of our team’s capability, resilience, and expertise, and sets us firmly on the path to making a difference in the sector.”

It is CS Energy’s second wind project following the recent purchase of the Lotus Creek wind farm near St Lawrence.

“The Boulder Creek Wind Farm supports the continued demand for renewable energy from CS Energy’s large commercial and industrial retail customer,” CEO Darren Busine said.

“With Callide power station located approximately 110 kilometres away, CS Energy will investigate training pathways for our employees to provide maintenance services at the wind farm.”

The project will use wind turbines supplied by GE Vernova, with the construction activities to be overseen by RES, the balance of plant by DT Infrastructure and the grid connection assets by Powerlink. Debt financing is being provided by CBA, NAB, ANZ and ING.

The wind farm is being built on the lands of the Gaangalu Nation and the Darumbal peoples. It has secured all necessary federal and state government approvals and agreements with host landholders and first nations peoples.

The wind farm is located on the ranges between Mount Morgan and Westwood and on pastoral land that is predominantly used for cattle grazing that will continue during the construction and operations phases of the project.

Aula Energy has identified 2.4 GW of projects in Western Australia’s main grid and is also looking to build a 270 MW wind project – with a battery facility – at Carmody’s Hill, in South Australia’s mid-north.