Vinci and Acciona’s €6.15 B power transmission PPP for NSW
Vinci subsidiary Cobra IS, Acciona and Endeavour Energy have signed a power transmission PPP for to build a transmission network in New South Wales.
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Australia, NSW: Vinci subsidiary Cobra IS, Acciona and Endeavour Energy have signed a power transmission PPP for to build a transmission network in New South Wales.
A consortium of Vinci subsidiary Cobra IS, Acciona, and energy distributor Endeavour Energy has signed a commitment deed contract for a €6.15 billion public-private partnership (PPP) project to build a transmission network for renewable energy in New South Wales, Australia. The consortium is called Acerez, and it will finance, design, build, operate, and maintain several 330 kV and 500 kV transmission lines, substations and connecting infrastructure to distribute electricity from 4.5 GW worth of renewable energy plants in the state.
Cobra IS will be shareholder of the PPP’s special purpose vehicle and will be in charge of the works. The deal extends to 35 years and is a part of one of the first Renewable Energy Zones (REZ) planned in NSW. It will supply electricity to 2.7 million people in the cities of Dubbo and Dunedoo in the Orana region.
Engineering works are scheduled to start in early 2024 and the electrical network is expected to be progressively operational from the third quarter of 2027, with the project creating 5,000 construction jobs. Financial close on the deal is expected in the second half of 2024, following regulatory approvals.
Source: Global Construction Review
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