Australian wind energy company Windlab Ltd. has closed financing for a A$50 million (US$40 million) wind farm north west of Bendigo in the state of Victoria.
Funding for the 19.4-megawatt Coonooer Bridge Wind Farm was provided by Japan’s Eurus Energy Holdings Corp. Under the terms of the investment agreement, Eurus will provide a majority of project equity and will own approximately 80% of the wind farm. The balance will continue to be owned by Windlab and around 30 project neighbours.
Construction of the six-turbine project will start in July, with completion due later this year. The project will receive a 20 year feed-in-tariff from the ACT Government.