VINCI awarded a commitment deed contract for a major PPP contract of high voltage transmission lines in Australia
Nanterre, 20 December 2023
VINCI awarded a commitment deed contract for a major PPP contract of high voltage transmission lines in Australia
- PPP for HV electrical transmission lines and other electrical assets, part of one of the first Renewable Energy Zones (REZ) in New South Wales
- Cobra IS, shareholder of the future PPP’s SPV (Special Purpose Vehicle) and in charge of the works
The consortium ACEREZ, made up of VINCI through its subsidiary Cobra IS, Acciona and the local energy distributor Endeavour Energy, has signed with the New South Wales (NSW) Government a commitment deed contract for a 35-year major public-private partnership (PPP).
The financial closing is expected in the second half of 2024, following the completion of the regulatory approvals.
This PPP consists of the financing, conception, construction, operation and maintenance of several 330 kV and 500 kV transmission lines, substations and the connecting infrastructure to some renewable energy plants (4,5 GW capacity).
Engineering works are scheduled to start in early 2024, while the electrical network is expected to be progressively operational from the third quarter of 2027.
This project is included into the large and ambitious framework of one of the first Renewable Energy Zones (REZ) chosen by the NSW Government to encourage investment in renewable energy production and storage.
This 4,5 GW REZ will supply more than 2.7 million people in the Orana region, surrounding the cities of Dubbo and Dunedoo. In total, this 10 billion Australian dollars framework (6.15 billion euros), fully financed by private investors by 2030, will create around 5,000 construction jobs.
Cobra IS, which has already won several contracts of the same type, notably in Brazil, is now deploying its expertise in the promising Australian market.
About VINCI
VINCI is a global player in concessions, energy and construction, employing 272,000 people in more than 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s ambition is to create long-term value for its customers, shareholders, employees, partners and society in general.
This press release is an official information document of the VINCI Group.
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