EnergyAustralia Secures Major Wind Power Deal with TagEnergy

EnergyAustralia has inked a significant ten-year power purchase agreement (PPA) with TagEnergy for a portion of the energy generated by the Golden Plains Wind Farm. Under this deal, EnergyAustralia will receive up to 345MW of power from the second stage of the wind farm, representing around 40% of its total capacity.

Located in Rokewood, 60km northwest of Geelong, the Golden Plains Wind Farm is set to provide renewable energy to over 178,000 homes in Victoria once fully operational. Stage 2 of the wind farm, also known as Golden Plains Wind Farm – West, began construction in June 2024 and is expected to be completed by mid-2027.

This agreement plays a key role in EnergyAustralia’s strategy to decarbonize its portfolio, especially as the company prepares for the closure of its Yallourn coal-fired power station in 2028. Ross Edwards, EnergyAustralia’s Trading and Transition Executive, emphasized that the company is actively investing in renewable energy projects across Australia, including the Wooreen battery in Latrobe Valley and virtual storage with Akaysha Energy.

Andrew Riggs, Managing Partner of TagEnergy in Australia, hailed the agreement as a major step toward the company’s goal of helping the world reach net zero carbon emissions. He highlighted the innovative investment approach TagEnergy has taken with both stages of the Golden Plains Wind Farm, ensuring that renewable energy production can meet rising demand without reliance on long-term PPAs.

The construction of Stage 2 of the Golden Plains Wind Farm will create over 400 jobs, contributing to the economic development of the region. Once complete, the entire 1,333MW project will provide nine per cent of Victoria’s energy needs, powering over 765,000 homes—equivalent to the entire residential population of regional Victoria.

With a total project value of $4 billion, the Golden Plains Wind Farm is set to be one of Australia’s largest renewable energy projects. The farm is majority-owned by TagEnergy, with Ingka Investments (the investment arm of Ingka Group, owner of most IKEA stores globally) holding a 15% stake in Stage 1, underscoring the global interest in renewable energy ventures.

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