Gas Natural to invest €120 million in Australian wind farm project

Barcelona (CNA).- The Barcelona-based multinational Gas Natural has been awarded its first wind farm contract in Australia through its international power generation business company Global Power Generation (GPC). The 91-megawatt park will be constructed in the state of New South Wales, 90 kilometres from the capital city of Australia, Canberra. Gas Natural is expected to invest €120 million euros in the wind farm, which will be named Crookwell II.

The new wind farm will be based in one of the more environmentally friendly areas of Australia, where efforts to fight against climate changes are growing. The contract awarded to Gas Natural will last for 20 years. Global Power Generation expects the wind farm to be fully operational in the second half of 2018.    

The Gas Natural group set up Global Power Generation to promote its international power generation business and enter new markets. In 2015, the sovereign fund Kuwait Investment Authority (KIA) signed a deal with the power company and became a 25% shareholder in GPG. The wind farm in Australia is the first business of the company in the Asian-Pacific region, considered one of the priorities in its strategic plan.