KUALA LUMPUR (Sept 27): Gamuda Bhd (KL:GAMUDA) said on Friday it has secured a A$243 million (RM702 million) construction contract to deliver the Boulder Creek Wind Farm in Queensland, Australia.
The project will comprise 38 turbines with a generating capacity of 228 megawatts when the wind farm begins operations in 2027, Gamuda said in a statement. Site preparatory works are expected to begin before the end of 2024, with activity ramping up from early to mid-2025, the company said.
The project was awarded to Gamuda’s wholly owned Australian subsidiary DT Infrastructure Pty Ltd by Aula Energy Holdings Pty Ltd and CS Energy Ltd. DT Infrastructure collaborated with Aula during the early contractor involvement phase of the Boulder Creek Wind Farm in March of this year.
“We look forward to drawing on that early contractor knowledge to optimise procurement, construction and delivery practices that will ensure the success of Stage 1 of the project,” Gamuda said.
The wind farm — located about 40km southwest of Rockhampton in Queensland — would be the first project to be delivered by Gamuda under DT Infrastructure.
Jointly owned by Australia-based Aula and CS Energy, the wind farm is set to power some 85,000 homes upon its operation and bolster Queensland’s efforts to reach its electricity generation target of 50% overall supply from renewables by 2030.
“Australia is undergoing a transformative shift as it looks to reshape its energy landscape,” the company said. “We are excited to be part of that change and to work with Aula and CS Energy to be a ‘safe pair of hands’ for the delivery of this exciting project.”
On Thursday, Gamuda reported an 8.2% year-on-year increase in net profit to RM272.49 million while revenue rose 38.7% to RM4.72 billion for the fourth quarter ended July 31, 2024 (4QFY2024).
For FY2024, its net earnings from continuing operations rose 12% to a record-breaking RM912.13 million while revenue jumped 62.4% to RM13.35 billion.
Shares of Gamuda gained 16 sen or 2% to RM8.17 at Friday’s noon break, giving it a market capitalisation of RM23.04 billion.