CS Energy has signed a memorandum of understanding with EDF Renewables to progress the development of Central Queensland’s $350 million Banana Range Wind Farm.

Premier Annastacia Palaszczuk said the 230MW project would generate enough cleaner, cheaper energy to power 15,000 homes and will deliver a wind-powered boost to the local economy with 150 new construction jobs.

“We expect construction to kick off at Banana Range in 2024 before coming online in 2026 and putting Queensland another step closer to our 50 per cent renewable energy target while providing decent, secure jobs for Queenslanders,” she said.

EDF Renewables acquired the Banana Range project from Goldwind Australia and Lacour Energy last year.

The site for the planned development is located about 120km south-west of Gladstone and 20 km west of the town of Biloela in Central Queensland.

Under the MOU agreement, CS Energy is considering both an offtake agreement and equity participation in the project.

EDF Renewables Australia chief executive officer Dave Johnson said the MoU aligned both parties’ common interests in the region.

“CS Energy has an established, long-term presence in the Banana Shire Council district through its Callide Power Station, and EDF Renewables is building a large presence in the same community with the construction of the Banana Range Wind Farm,” Mr Johnson said.

“It’s an ideal partnership that brings together like-minded companies working together on common interests, which includes maximising opportunities for the local community through the energy transformation.”