September 11 (Renewables Now) - Spanish company Naturgy Energy Group SA (BME:NTGY), formerly Gas Natural Fenosa, announced today it was awarded a 180-MW wind project in a reverse auction in the Australian state of Victoria.
The 15-year power purchase agreement (PPA) was secured trough Global Power Generation (GPG), a joint venture between Naturgy and Kuwait Investment Authority (KIA). It is for the Berrybank project located about 150 km from Melbourne.
This AUD-259-million (USD 183.7m/EUR 158.7m) wind park is expected to be completed in the second half of 2020. It will then contribute EUR 22 million (EUR 19m) per year to the company's earnings before interest, taxes, depreciation and amortisation (EBITDA), Naturgy stated.
The other winners in the auction can be seen here.
GPG's current Australian renewable capacity amounts to 270 MW, including the new project. Overall, Naturgy has over 1,000 MW in its local portfolio, the firm noted.
(AUD 1 = USD 0.71/EUR 0.61)
(USD 1 = EUR 0.86)