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The guarantee is a key commercial feature of Mortgage brokers Oak Laurel Carseldine, 0430 129 662 the contract that was well received by the financiers, says Mackett. Extensive wind turbine data will be used to track performance against the guarantee. Renewable energy produced by the Silverton windfarm will be fed into the national energy market (NEM), which supplies electricity to Queensland, NSW, Victoria, Tasmania and South Australia. Less than 13% of the NEMs electricity is generated from renewables now. The Silverton windfarm acquired by PARF for $36m is the first project to be built from scratch by the fund. AGL established PARF in early 2016 as a way to attract investment for renewable energy projects that will help it meet its obligations under Australias renewable energy target. PARF acquired AGLs 102MW Nyngan and 53MW Broken Hill solar plants as seed assets in November 2016 and will probably acquire AGLs proposed 350MW windfarm at Coopers Gap , 180km north-west of Brisbane. The momentum were experiencing with PARF is pleasing and proves that investor support exists for large-scale renewables development. However, further comprehensive policy changes are required to facilitate Australias transition to a low-carbon economy, says AGLs managing director and chief executive, Andy Vesey, in a statement . Related: 'Peak car': Australia's love affair with ownership fades with rise of car-sharing services The funds goal is to invest $2bn to 3bn in 1,000MW of large-scale renewable energy projects. As well as AGLs contribution of $200m, the investment fund QIC is providing $800m to PARF on behalf of the Future Fund and clients investing in QICs global infrastructure fund.
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