Shell buys 49% stake in Australia’s WestWind Energy
WestWind Energy Pty Ltd (Westwind Energy) today announced a new strategic partnership with Shell to support its development of wind energy projects in Australia. Shell will take a 49% interest in WestWind and invest in growing and accelerating the company’s pipeline of new wind energy developments.
Under the partnership, WestWind plans to deliver the existing 3,000 MW pipeline of renewable energy capacity across NSW, Victoria, and Queensland, significantly faster than under the current development plan.
WestWind Energy Australia Managing Director, Tobias Geiger, said “This is an exciting day for WestWind Energy and, more importantly, for Australia’s transition to a clean energy economy. “In partnership with Shell, we can accelerate our development of wind energy projects in Victoria and grow our NSW and Queensland portfolio. We will now be able to grow our team to undertake a larger number of projects, and progress them faster,” Mr Geiger said.
Shell Australia Country Chair Tony Nunan said: “Our first wind investment in Australia is a significant step in our goal to build a low carbon integrated business in Australia, in line with our customers’ evolving energy needs. “We are looking forward to working with WestWind to build a portfolio of wind projects to complement Shell’s investments over recent years across large scale solar, carbon trading and energy retailing,” Mr Nunan said.
The new partnership will be entirely focussed on future projects. The Golden Plains Wind Farm will remain separately owned by WestWind Energy with equity investor TagEnergy.
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