December 2020.
Palisade Investment Partners (Palisade) is pleased to announce the completion of construction and successful final commissioning of the Granville Harbour Wind Farm (GHWF).
Following the erection of the final wind turbines in October and successful completion of AEMO compliance testing in early December, the 111.6 megawatt wind farm is now fully operational.
The wind farm, located in north-west Tasmania, approximately 35km north west of Zeehan, is comprised of 31 Vestas turbines and is connected to the grid via an 11km transmission line.
Palisade CEO and Managing Director Roger Lloyd said: “This is a fantastic milestone, both for the GHWF project and the state of Tasmania. It demonstrates the commitment of Palisade to the Australian renewable energy transition, particularly in helping Tasmania achieve its 100% renewable energy target two years early.
Palisade Investment Director James Hann said: “The successful completion of construction demonstrates the success of Palisade’s approach to investment in renewable energy assets during late-stage development. Our in-house expertise, complemented by those of our advisors and partners, has delivered a great outcome for our investors.
Since its initial investment in GHWF in 2018, Palisade has overseen late stage development and financial close, and then alongside John Laing, a complex construction project during a challenging period.
On behalf of its investors, Palisade manages a diverse renewable energy portfolio, including Waterloo Wind Farm, Hallett Wind Farm, Ross River Solar Farm and Snowtown 2 Wind Farm.
Palisade wishes to thank all those involved in achieving this important milestone including the west-coast community of Tasmania, HydroTasmania, AEMO, TasNetworks, West Coast Council, Ekistica, Vestas, KWM, Advisian, Mitsubishi UFJ Financial Group (MUFG), Australia New Zealand Banking Group (ANZ) and Westpac.
Palisade manages a 50.2% interest in GHWF on behalf of Palisade’s Renewable Energy Fund (PREF).
Since inception, PREF has provided investors with a total return of 12.5% p.a., including 7.2% p.a. of income before fees.
For further information please contact:
James Hann
Investment Director
Ph: +61 2 8970 7803
james.hann@palisadepartners.com.au
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