NAB Will Finance $370m Far North Wind Farm

The winds of change

Article heading image for NAB Will Finance $370m Far North Wind Farm

A new Far-North wind farm project now has the financial backing of one of the biggest national banks.

NAB has announced that they are committing $370 million to build the green energy plant at Ravenshoe.

NAB will finance $370m Far North wind farm

The energy plant that is being built by Neoen, will be located 80km southwest of Cairns and will generate enough clean energy to power around 100,000 homes per year.

NAB Group Executive David Gall says this project will be crucial to ensure Australia meets its climate targets.

“Project like this, I think represents a really good way of ensuring that the Government can meet those targets and done in a way that a project like this can produce very significant amounts of power.”

Mr. Gall added that on top of that, it’s a win for Far North Queensland and will bring jobs for locals.

“You’ve got obviously quite a few jobs, 250 local jobs during construction, and particularly challenges around tourism that offers a really good source of employment.”

The plant is expected to be finished in 2023.

Get the latest breaking news from SCA newsrooms around Australia. Short, simple and everything you need to know.

Hit News Team

21 September 2021

Article by:

Hit News Team

Listen Live!

Up Next