Energy company RWE secured a regulated contract under the Australian government’s Investment in Capacity Scheme (CIS) to develop the Theodore onshore wind farm. This award, corresponding to Tender 7 of the federal program, guarantees a floor and ceiling of commercial revenue for the facility, ensuring the asset’s financial stability. Furthermore, the total volume of private investment required for the complete construction of this power generation complex is estimated at 3 billion Australian dollars.
Details of the financial and energy agreement in Queensland
In terms of technical dimensions, the project will be located in the Banana Shire Local Government Area and will have an installed capacity of 1.1 gigawatts. The planned infrastructure includes the provision of up to 170 inland wind turbines and an integrated system of energy storage using large-scale batteries. Once operational, the park will generate enough electricity to power approximately 500,000 homes in Queensland.
Likewise, Sopna Sury, CEO of RWE Renewables Europe & Australia, stated that this allocation confirms the asset’s strong fundamentals and its ability to add value to the regional electricity system. She noted that the public subscription mechanism directly supports the structuring of solid financing for the wind farm.
Implementation schedule and social commitments
Regarding the development timeline, the complex received approval for its state planning application in June 2025. Currently, the firm is managing the permits related to the Federal Law for Environmental Protection and Biodiversity Conservation.
The developers anticipate start civil works at the end of 2026, subject to final environmental permits and the final investment decision. Construction will continue for a period of up to four years and will require a maximum workforce of 500 operators at peak times.
Furthermore, the project includes a social investment scheme with a Community Benefits Fund of AU$17.5 million, distributed over its lifespan. RWE will maintain a minimum annual allocation of AU$500,000 during the construction and commercial operation phases, in addition to the funds already granted to local entities in the region.
Source and photo: RWE