Key Australian Wind Farm Moves Forward

Written by Martin Lynch, European News Editor for IIR News Intelligence (Sugar Land, Texas)

Summary

Contracts have been awarded for one of Australia' s largest wind projects as the sector battles against a drought in actual wind farm construction.

Boost For Slowing Sector

A series of contracts have been awarded for the Parron Maam Marang wind farm in western Australia, one of the largest to advance towards a financial investment decision in recent years. The news is positive for the sector which has seen the number of wind farms reaching financial close and construction drop dramatically in recent years. 

Developer Atmos Renewables has awarded a AUD$135 million (US$94 million) contract to GenusPlus Group to deliver a 330-kilovolt (kV) terminal, 330-kV transmission lines works and associated ancillary works within the 330-kV Parron Maam Marang Farm substation. The work is scheduled for completion in 2028. In addition, Swedish turbine maker Vestas has contracted to supply 78 of its V162 6.2-megawatt (MW) wind turbines for the 484 MW wind farm. Industrial Info Resources data show more than 400 wind farm projects in Australia worth US$249 billion in investment. 

Earlier this year, Atmos Renewables secured a long-term power purchase agreement (PPA) for Parron with the Western Australian Government. Nigel Baker, chief executive officer of Atmos, said: "This agreement is a critical enabler for getting new renewable capacity built in Western Australia -- not in theory, but on the ground. The energy transition is now firmly in the delivery phase. What matters is bringing forward projects that are bankable, constructible and capable of supporting the system as it evolves."

Double Win

Vestas announced that it had also been contracted by Foresight Group for 21 V162 6.2-MW turbines for the 130-MW Kondinin Wind Farm, with delivery planned for 2027 and commissioning scheduled for 2028. "These projects are about more than generating renewable energy," said Purvin Patel, Regional President Asia Pacific, Vestas. "They are helping build an energy system that is secure, affordable, and sustainable for Australia over the long term. Australia is a key market for Vestas."

Financing Problems

According to data from the London Stock Exchange, lending for wind energy projects in the country crashed to US$525 million in 2025, versus US$5 billion in 2024. This is despite overall lending for renewable energy projects clocking in at US$16.4 billion, the highest amount since 2020. Rising capital costs were one of the key reasons cited, alongside widely contrasting policies to renewable energy by the leading political parties. According to the Clean Energy Council, an industry body in Australia, wind was one of the poorest performing sectors outlined in its Clean Energy Australia 2026 report. "In 2025, a range of factors, including rising inflation, regulatory bottlenecks, slow transmission delivery, and the prolonged phase-out of coal stations, soured investment confidence in new generation. Only 2.3 GW of large-scale renewable generation reached financial close during the year, down from 4.4 GW in 2024 and one of the lowest levels in the past decade. The slowdown was most evident in wind, where just 857 MW reached financial close, compared to 2.2 GW the previous year."

It added: "The [government's] Capacity Investment Scheme (CIS) has supported important project pipelines but has not yet translated into the volume of committed investment the transition requires. Too many contracted projects are failing to reach financial close, a pattern driven in part by assessment processes that have not sufficiently screened for project deliverability as well as inflationary costs and challenges securing Power Purchase Agreements to complement CIS support. The result is a large portion of the apparently awarded capacity not proceeding to financial close and construction. Wind has been particularly affected, despite a large contracted pipeline."

Key Takeaways

• Contracts have been awarded for one of Australia' s largest wind projects, the 484 MW Parron Maam Marang wind farm. 
• Lending for wind energy projects in the country crashed to US$525 million in 2025, versus US$5 billion in 2024.
• Industrial Info Resources is tracking more than 400 wind farm projects in Australia worth US$249 billion in investment. 

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).