Macquarie’s Aula jumps on board plans to build massive wind farm in New South Wales

Aula Energy, the newly launched offshoot of finance giant Macquarie, has jumped on board the plans of renewables developer RES to build a more than 600 megawatt (MW) wind farm in south-western New South Wales.

The 612MW Argoon Wind Farm is being proposed for construction around 20km north of Jerilderie and 30km southwest of Coleambally, within the NSW South-West Renewable Energy Zone (REZ). Initial feasibility assessments for the project were completed by RES in 2022.

Aula, which was established by Macquarie Asset Management in late 2023 as an Australian-headquartered renewables developer, said on Friday it has entered into an agreement with RES to develop the Argoon project further.

The two companies say the deal builds on the successful collaboration on the Murra Warra wind farms in Victoria, which demonstrated the benefits of combining deep experience and deep pockets to deliver a renewables project.

The companies say point of focus for the next stage of development for Argoon wind farm will be a continuation of community consultation and discussion around how the wind farm can benefit the region and its people, as well as of environmental assessments.

The project will offer a total of $40 million of community shared benefits, which Aula says is more than double per MW of that proposed by draft NSW Planning guidelines.

This would include providing internet and mobile services to the local First Nations population through a partnership with Jerilderie Jethi Group, the companies say.

RES is also looking to establish an operations, maintenance and education hub, to provide long term employment and training opportunities for the Riverina region.

On the environmental side, RES says the project’s footprint has been reduced by 30% from its original design, to protect critical habitats and species, including the Plains Wanderer and the Myall Woodlands.

For Aula, the decision to collaborate on the Argoon wind farm follows last week’s news it has reached financial close on its first wind farm project in Australia – the $740 million Boulder Creek wind farm it is developing with CS Energy in Queensland.

The Macquarie offshoot launched in 2023 with a goal of building 4 gigawatts (GW) of wind, solar and battery storage projects across the country.

“[Argoon wind farm] is a testament to our shared goals and our dedication to driving the renewable energy transition, which will deliver benefits for communities in NSW and Australia more broadly,” said Aula CEO Chad Hymas on Friday.

“This partnership underscores our shared commitment to the energy transition and builds on an existing collaborative working relationship,” added RES CEO Matt Rebbeck. “We look forward to achieving another significant milestone in renewable energy development.”