18 Mar Acciona and Korea Zinc agree to JV develop 923MW Queensland wind farm
Spanish infrastructure company Acciona and international metals group Korea Zinc have reached an agreement to jointly develop the 923MW MacIntyre Wind Farm in Queensland.
Under the agreement, Ark Energy – a subsidiary of Korea Zinc – will take a 30% stake in the development, with Acciona retaining 70%. MacIntyre is one of the largest renewable energy projects in Australia, and the largest energy project in Acciona’s portfolio.
The latter firm will maintain responsibility for managing the project through its development, construction, operations and maintenance stages.
Acciona has also signed a 10-year PPA with Queensland public electricity company CleanCo, which will see it acquire the annual production from 400MW of Acciona’s facilities.
The MacIntyre Wind Farm will also provide clean power to Sun Metals Corporation – a Korea Zinc subsidiary in Australia. The deal will help the metals group meet its target of obtaining 100% of its energy from renewables by 2040.
José Manuel Entrecanales, Acciona’s chairman and chief executive, said: “Having Korean Zinc as a partner in this landmark project is a privilege and marks a milestone in MacIntyre’s development.
“Our companies share a common goal to pioneer clean energy and this partnership is the perfect example of how two companies from different sectors can work together to deliver flagship renewables infrastructure.”
In addition to the MacIntyre project, Acciona will build the adjacent 103MW Karara Wind Farm owned by CleanCo. When both are fully operational in 2024, they will generate clean electricity to supply nearly 700,000 homes.