Commonwealth Bank is one of five banks providing project finance to support the development of the 180MW Dulacca Wind Farm, located in the Western Downs region of Queensland.
The green field development is located roughly 300 km north west of Brisbane and will comprise 43 wind turbines with a generation capacity of 180MW, or enough electricity to power approximately 124,000 typical QLD households. The project is expected to be completed in 2023 and has a 30 year design life.
The Queensland Government has signed a long-term agreement to purchase 70 per cent of the wind farm’s electricity generation. The offtake agreement will help advance Queensland toward its target of having 50 per cent energy generation from renewable sources by 2030.