Tasmanian landowners and Gamuda co-develop clean energy portfolio
PETALING JAYA: Gamuda's wholly-owned Australian subsidiary, Gamuda Holdings Pty Ltd, has signed a landmark agreement with local Tasmanian landowners to co-develop a portfolio of large-scale renewable energy projects in central Tasmania.
The portfolio represented a combined capacity of 600 megawatt (MW) of wind and solar energy generation and up to 600MW of battery storage.
The portfolio, which includes Weasel Solar Farm and Cellars Hill Wind Farm, has been led by prominent Tasmanian landowners – the Downie Family with development partner Alternate Path.
'The Downie Family has held pastoral land in Tasmania for over 200 years, and Peter Downie is a respected community member and renewable energy advocate.
'As a landowner-led project portfolio, the project planning has been developed in close collaboration with local landowners, community and government to be sensitive to the local environment and deliver local community jobs and benefits, including energy rebates to households within a 12km radius of the portfolio,' said Gamuda in a statement.
It will take an equity stake in the portfolio to secure development rights for the current and future projects and deliver them under sole-source engineering, procurement and construction (EPC) contracts.
This will set the company up with a pipeline of energy construction work through to 2029. The agreement is subject to foreign investment review board's approval.
'Central to its equity investment in the portfolio, Gamuda is committed to continue the landowner-led principles of the portfolio which will be delivered in partnership with the Downie Family and Alternate Path.
Gamuda has been increasing its capacity and capability in the energy sector over the last 18 months to leverage Australia's clean energy transition.
The company's strategy has been to invest in 'shovel ready' solar and wind projects while also selectively bidding for EPC contracts in solar, wind, pumped hydro and transmission projects.
The company is engaged under early contractor involvement agreements for Alinta Energy's Oven Mountain pumped hydro energy project in New South Wales and Copenhagen Infrastructure Partner's Capricornia energy hub in Queensland.
Gamuda's chief strategy and growth officer Jarred Hardman said the Central Tasmania portfolio perfectly fits Gamuda's energy strategy to become a leading end-to-end renewable energy developer, builder, and owner of energy assets to accelerate Australia's clean energy future.
'This deal represents Gamuda's first significant investment in renewable energy development in Australia.
'This builds upon our ongoing success of Goulburn River solar farm and Boulder Creek wind farm in Australia since 2024 where we are delivering a US$4.5bil pipeline, and is supported by our energy experience across a range of projects internationally.'
Subject to further planning and development processes and approvals, construction of Weasel solar farm is estimated to commence in financial year 2027 (FY27) and Cellars Hill Wind Farm in FY28.
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