CBD Energy Limited (NASDAQ: CBDE; previously OTCBB: CBDNF), a diversified renewable energy company, has been engaged as the Owner’s Project Manager for the 107MW Taralga Wind Farm in New South Wales, Australia. In addition, as the project enters the operational phase, CBD has been designated as the Owner’s Facility Manager. CBD Energy Limited is a diversified clean energy company and leading provider of solar installations worldwide.
Taralga Wind Farm is located in South Western New South Wales, the most populated region in Australia. It utilizes proven Vestas Wind Technology turbines with an estimated construction cost of approximately A$280M. Banco Santander, one of Europe’s largest banks, has partnered with CBD on the project and has acquired 90% of the equity. CBD retains a 10% equity holding. The project is under construction with plans progressing towards the final commissioning program and the operations plan.
“Construction of a project of this size is not without its challenges. CBD’s project team has met and solved each challenge along the way. The next major project is already on the drawing board, with due diligence progressing. There is a concerted expectation that the Australian government will modify its energy program consistent with its goal to be a leader in emissions reduction in the Asia Pacific region,” said Gerry McGowan, CBD Executive Chairman and Managing Director.
When completed in late 2014, Taralga Wind Farm will generate approximately 300 GW hours of renewable energy annually, which is the equivalent of the annual energy needs of 40,000 homes.