Spanish renewable energy giant Iberdrola says it has bought the rights of a 1,000MW (1GW) wind project in north Queensland, further entrenching itself as a major player in the Australian market.
Iberdrola last year took control of once listed Australian renewable energy developer Infigen Energy, and has recently started the commissioning process of the country’s biggest wind and solar hybrid, the 317MW Port Augusta Renewable Energy Park in South Australia.
The Mt James wind farm development is located around 80km north of Hughendon in north Queensland, an area that Iberdrola says will play a key role in reaching the state’s 50 per cent renewable energy target by 2030 and creating a green hydrogen hub
“The Mt James wind farm is now one of the foundation assets of Iberdrola Australia’s green energy growth strategy in Queensland,” it says.
Iberdrola says it has already submitted a development application for the site and is seeking EPBC approval.
“As almost 25GW of ageing baseload coal generation exits the National Electricity Market, significant investment in replacement generation capacity will be required,” it said in a statement.
“In the future – as the energy transition gathers pace in Australia – we anticipate customers will need Iberdrola to deploy its technical capabilities and financial resources into a broader set of energy services and energy infrastructure investments.”
“Our investment in Mount James occurs in the context of these broader strategic ambitions.”
Iberdrola says that since entering the Australian market in 2019, it has invested in 760MW of new capacity worth $1 billion,including the Port Augusta Renewable Energy Park, and the Avonlie solar farm, the Wallgrove grid battery, and the Flyers Creek wind farm in NSW.
