Gamuda’s Unit signs Deal To Co-develop Renewable Energy Projects In Australia

KUALA LUMPUR, June 30 (Bernama) -- 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 represents a combined capacity of 600 megawatts (MW) of wind and solar energy generation capacity and up to 600 MW of Battery Energy Storage System (BESS).

In a statement today, Gamuda said this marks its first significant investment in renewable energy development in Australia.

The portfolio, which currently 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 done 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 12-kilometre radius of the portfolio,” it added.

Gamuda said 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, and the agreement is subject to Foreign Investment Review Board approval,” it said.

Gamuda said the construction of the Weasel Solar Farm is estimated to commence in 2027 and the Cellars Hill Wind Farm in 2028.

“The company is currently 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,” it said.

Gamuda chief strategy and growth officer, Jarred Hardman said the Central Tasmania portfolio was in line with the company’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.

-- BERNAMA