Origin Energy Ltd (ORG) has gained a larger footprint in the clean energy space, adding an advanced 1.5 gigawatt (GW) wind farm project in the New South Wales to its portfolio.
The company has entered into an agreement with Australian wind farm developers Virya Energy to acquire their Yanco Delta wind farm, which comprises a 1.5 GW wind farm and a 800 megawatt hour (MWh) battery on a 33,000 hectare site, situated in the Riverina district, within the NSW government-designated ‘South West Renewable Zone’ (REZ).
Approvals for Yanco Delta- which is one of the state’s largest and most advanced energy storage projects – have already been advanced, including state government approval for its development secured in December 2023, and EPBC approval in February this year.
Origin CEO Frank Calabria said acquisition of the project was an important step for Origin in moving into the clean energy space.
“Yanco Delta is a large-scale, advanced and therefore highly strategic wind development project,” he said.
“With the key planning and regulatory approvals secured, and with significant plans for supporting infrastructure and transmission in place, the acquisition of Yanco Delta represents a major step forward in our journey to transition Origin’s portfolio to cleaner energy.
“Origin has made rapid progress in building out a portfolio of renewable and storage projects at varying stages of development, and Yanco Delta represents a unique opportunity to bring a material volume of renewable energy supply into the market relatively quickly, to help meet the needs of our customers.
Origin Energy is trading at $9.54c.