Stanwell to buy Australia’s biggest publicly owned wind farm as coal giants accelerate renewables push

Queensland state owned generation company Stanwell Corp has fast tracked a deal to buy a 436.5 megawatt (MW) wind project near Kingaroy that it says will be the biggest publicly owned wind farm in the country.

The “historic deal” for the Tarong West wind project was signed with global renewable energy developer RES, and will be supported by $776 million of funding from the state government to build the facility.

“Tarong West Wind Farm will be Australia’s largest publicly owned wind farm, which is a game changer for Queensland’s renewable energy future,” state energy minister Mick de Brenni said in a statement.

“This critical project will deliver not only enough clean energy to power the equivalent of 230,000 homes but it will bring an economic boost to the South Burnett with hundreds of clean energy jobs.”

The plan for Stanwell to take first ownership of the Tarong West wind project was first announced in 2022, when it was then suggested that the deal would be consumed once the wind farm was built.

But construction is not expected to start till next year, and the new announcement late on Friday comes just a month before the state election takes place on October 26, and just a few days before the caretaker period starts on October 1.

The state Labor government has a target of 70 per cent renewables by 2032 and 80 per cent by 2035 for Queensland, which remains the most coal dependent state in the country. However, the LNP, currently favoured by polls to win power, intends to scrap the renewables target and says it does not support wind energy.

“Only the Miles Government has a vision for Queensland’s future,” minister de Brenni said. “The LNP have already voted against our renewable energy targets and have announced cuts to major renewable energy projects.”

The Tarong West wind project recently obtained development approvals, and a final investment decision on the 97 turbine project is expected in early 2025. It takes the renewable development pipeline of Stanwell to more than 4 gigawatts (GW).

“It will play a critical role in transitioning our energy portfolio and brings us closer to our goal of having 9 to 10GW of large-scale wind and solar capacity by 2035,” Stanwell CEO Michael O’Rourke said in a statement.

“Stanwell now has more than 4000 MW of renewable energy and storage in our portfolio under contract, in development or under construction.

RES CEO Matt Rebbeck says the company will continue to work with the local community, landowners and traditional owners prior to the commencement of construction.

“We welcome Stanwell’s involvement in the project as we work to achieve a cleaner, more sustainable energy future for Queensland,” he said.