The Portland Wind Energy Project (PWEP) in southwest Victoria is comprised of five separate sites, with a total installed capacity of 179 megawatts.
The project which is now complete, comprised four stages:
- Yambuk Wind Farm (PWEP I)
- Cape Bridgewater Wind Farm (PWEP II)
- Cape Nelson South Wind Farm (PWEP III)
- Cape Nelson North / Cape Sir William Grant Wind Farm (PWEP IV)
Early Involvement Yields Results
WSP has been involved with the project from its early stages. We acted on behalf of project lenders as Independent Technical Advisor for PWEP II and PWEP III, both in the lead up to financial close and during the construction and commissioning of the assets.
For the final stage, PWEP IV, we acted as Independent Technical Advisor to the project lenders throughout the construction and commissioning phases.
Our work included:
- A review of monthly reports from the developer and main contractors
- Independent authorisation of cost-to-complete certificates and associated drawdown requests
- Regular site visits to check the progress of the works and the general operations on site
We also completed a detailed technical due diligence of the Portland Wind Energy Project to support the financing of PWEP IV construction (consisting of 23 REpower turbines). Our review included the operational wind farms at PWEP II and PWEP III, as well as condition inspections, maintenance history, wind farm performance and an operational energy assessment.
For the PWEP IV review, we assessed:
- Technical inputs into the financial model
- Construction contract
- Operation and maintenance contract
- Grid connection
- Environmental compliance
- Equator Principles compliance
- Opex and Capex assumptions
Powering the Community
The last stage of the Portland Wind Energy Project, PWEP IV, was completed in 2015. The 23 REpower turbines have a combined capacity of 47.2 MW, which can generate enough power for approximately 31,000 Victorian homes.