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Symal (ASX:SYL) has confirmed its receipt of a $347M contract to build out the Gawara Baya wind farm project in Northern Queensland.
Backed by and announced in a government presser, the project is reportedly able to power 240,000 at nameplate capacity towards which end earthworks will commence in FY26.
Symal for its part reiterated a figure to boast the project will effectively ‘remove’ 1.3Mt of carbon dioxide that would otherwise be generated were homes and businesses using the power to source it from a non-renewable method – namely coal firing or gas turbines.
After earthworks kick off, Symal will also tackle road construction, drainage, build out a bridge, and more work – though the contract of works is subject to ongoing change. Symal expects operations to take two years.
“This significant project further strengthens our commitment to our national expansion into Northern Queensland and adds to Symal’s long list of renewable energy projects we have successfully delivered and adds a significant amount to our work in hand position,” Gawara Bay Wind Farm GM Joe Bartolo said.
Queensland is one state in Australia that has set up a Renewable Energy Zone (REZ) – which is effectively a kind of ‘exclusive economic zone’ except, well, for renewables.
SYL last traded at $1.97.
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