Key points
- Gawara Baya Wind Farm project receives Notice to Proceed
- Contract value increases to $366 million
- Project expected to take 24 months to complete
- Aims to displace 1.3 million tonnes of carbon dioxide emissions annually
Full summary
Symal Group Limited (ASX: SYL) has announced that the Gawara Baya Wind Farm (GBWF) development has satisfied all conditions precedent and received a Notice to Proceed, allowing work to commence immediately. The head contract, initially valued at $347 million, has increased to $366 million to account for final refinements to the scope of works. The project, located in North Queensland, is expected to take approximately 24 months to complete and will provide clean power to Australian homes, displacing approximately 1.3 million tonnes of carbon dioxide emissions annually.
Guidance
Contract value increased to $366 million, expected completion in 24 months.
Outlook
Symal Group anticipates the Gawara Baya Wind Farm project will strengthen its position in Queensland and enhance its renewable energy portfolio.