CBD Energy completes first stage of $265 million Australia wind farm

Renewable energy company CBD Energy erected 6 wind turbines on its Taralga Wind Farm site in New South Wales, Australia, with a further 17 nearing completion. When construction is complete, the Taralga Wind Farm will have 51 operating wind turbines.

The initial generation from constructed wind turbines is planned for December 2014. When completed, the about $265 million project is forecasted to generate on average $25 million of revenues each year for its investors. The project's off-take customer is Energy Australia, one of Australia's largest utilities.

CBD owns a 10 percent residual stream in the project, which will result in revenue recognition after project completion and the achievement of certain financial thresholds. Banco Santander is the majority investor in the project.

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